FAST MONEY: Power Grid, IGL among key trading ideas for today's trade

The Sensex and Nifty are expected to open flat tracking mixed trend in global markets wherein Wall Street settled marginally higher, while Asian markets moved lower as investors fretted about new setbacks in US-China trade talks. However, negative sentiment was tempered by US Federal Reserve meeting minutes suggesting it would not raise the tempo at which it increases interest rates.

At 8:25 am, SGX Nifty was trading at 10,462, up 41 points or 0.39 per cent. Overseas, MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, while Japan’s Nikkei stock index was 0.6 percent lower.

On Wednesday, persistent outflow of foreign funds along with weak global cues and a depreciation in the rupee led to the key Indian equity indices plunging. The Sensex closed at 34,344.91 points, down 306.33 points or 0.88 per cent, while the broader Nifty closed at 10,430.35 points, down 106.35 points or 1.01 per cent.

Provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 311.11 crore, while the domestic institutional investors bought stocks worth Rs 789.78 crore.

Here are key trading ideas for today's trade:

POWER GRID (Buy)        

Target: Rs 218      
Stoploss: Rs 209.5

Fresh buying in futures trade; OI jumped 5%
80% cash delivery in stock

IGL (Buy)

Target: Rs 270  
Stoploss: Rs 260

Q4 results improved; margin jumped 2%
Surge in crude prices benefits IGL

EVEREST KANTO  (Buy)

Target: Rs 45    
Stoploss: Rs 42.5

The govt is promoting gas vehicles
Buying expected at lower levels

WATCH VIDEO: A RECAP OF WEDNESDAY'S MARKET SESSION

Indiabulls Housing  (Buy)

Target: Rs 1150   
Stoploss: Rs 1110

80% cash delivery in stock
Short-covering seen in futures trade

NCC (Buy)

Target: Rs 110    
Stoploss: Rs 104

The company expected to perform better in Q4
Q4 profit due today may double 

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