FAST MONEY: Phoenix Mills, Berger Paints among top intraday buy calls

The Sensex and Nifty are expected to open lower on Friday after Chinese stocks and the yuan slipped ahead of the implementation of major tariffs that will move the trade row between the United States and China to a new level and cloud the global economic outlook. At 7:50 am, SGX Nifty was trading at 10,719.50, down 38.50 points or 0.36 per cent.

Meanwhile, Federal Reserve officials reaffirmed their commitment to gradually raising the benchmark lending rate amid rising risks from trade battles and emerging-market turmoil that could blunt the tailwind from fiscal policy, the minutes of the Federal Open Market Committee’s June 12-13 gathering in Washington, released Thursday, showed.

Back home, the rupee tumbled for the second straight session to hit a fresh closing low of 68.95, sliding by 21 paise following a panic demand for the US dollar coupled with savage capital flight worries.

Here are key intraday trading tips:

Mangalore Chemical  

Target: Rs 64 
Stoploss: Rs 57 

Karnataka loan waiver to farmers will benefit the company
It might buy 20% stake in Zuari Agro

Berger Paints  

Target: Rs 300 
Stoploss: Rs 288 

The company entered into an agreement with Rock Paint
Agreement is for business expansion in Nepal, Bangladesh and India

Greaves cotton  

Target: Rs 146 
Stoploss: Rs 136

Loan waiver to farmers, and a hike in will push agree products demand

CG POwer 

Target: Rs 64
Stoploss: Rs 57 

Buying with heavy volumes in last hour of trade
The stock crossed key moving averages

WATCH ZEE BUSINESS VIDEO HERE

Phoenix Mills

Target: Rs 652
Stoploss: Rs 632

The company bought land in Pune for Rs 1.36 crore

(Stocks are for informational purpose. Consult your financial advisor before investing.)