FAST MONEY: Reliance Industries, Munjal Auto among key intraday trading tips

The Sensex and Nifty are expected to open higher on Monday tracking positive trend in Asian markets as strong US jobs data offset worries that tariff wars between the United States and the rest of the world could drag global economic growth lower. At 8:00 am, the SGX Nifty was trading at 10,718.50, up 39 points or 0.37 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent while Japan’s Nikkei rose 1.0 percent. On Wall Street on Friday, U.S. tech shares soared, pushing up the Nasdaq Composite 1.51 percent to 7,554, near its record closing high of 7,588 marked in March.

In contrast, S&P 500, which rose 1.08 percent on Friday, was still about 140 points off its record peak of 2,872 set in January as concerns about trade frictions curtailed many other shares, including industrials.

On Friday, the Sensex and Nifty settled lower as optimism over robust growth data was tempered by renewed concerns of a global trade conflict. Profit-booking in power, utilities and banking stocks offset gains in auto counters, which spurted following upbeat sales figures for May.

The Sensex ended at 35,227, down 95.12 points, while the broader Nifty50 was ruling at 10,696, down 39.95 points. Broader markets underperformed with the BSE Midcap and the BSE Smallcap indices slipping up to 1.5 per cent.

Key intraday trading ideas for today's trade:

Munjal Auto  

Target: Rs 70   
Stoploss: 67

Robust sales figures of Hero Group will benefit the stock
Expanding exports at foreign countries 
 
Setco Automotive

Target: Rs 50    
Stoploss: Rs 47.25

Robust sale of commercial vehicles
Highest profit in last five quarters

Akzo Nobel  

Target: Rs 2000   
Stoploss: Rs 1910

Buyback record date fixed on June 7
Buyback at 10 per cent premium to current market price

WATCH ZEE BUSINESS VIDEO HERE

Torent power   

Target: Rs 275   
Stoploss: Rs 265

Buying in stock in last hour of trade with heavy volumes
Short-covering in futures market 

Reliance Industries  

Target: Rs 960  
Stoploss: Rs 920

Cash delivery 55% in the stock
Closing at key level of Rs 930

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