FAST MONEY: SBI, Adani Enterprises among 8 intraday trading tips

The benchmark indices are expected to open flat on Tuesday tracking positive trend seen in Asian markets, which rallied on reports of behind-the-scenes talks between the United States and China. The reports rekindled hopes a damaging trade war could be averted, in turn sapping the strength of the dollar and yen. At 8:20 am, SGX Nifty was trading at 10,174.50 little changed from previous day's session. 

Taking its cue from a surge on Wall Street, Japan's Nikkei climbed 1.1 per cent in early trade. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.4 per cent. South Korea's KOSPI rose 0.7 per cent, adding to gains made after the US exempted the country's steel from import tariffs.

The abrupt mood swing came amid reports Chinese and US officials were busy negotiating to avert an all-out trade war. White House officials are asking China to cut tariffs on imported cars, allow foreign majority ownership of financial services firms and buy more US-made semiconductors, reported Reuters, quoting a person familiar with the discussions. Chinese Premier Li Keqiang on Monday pledged to maintain trade negotiations and ease access to American businesses.

Even a whiff of a compromise was enough to propel Wall Street to its best day in 2-1/2 years and deliver the Dow its third-biggest point gain ever. The Dow jumped 2.84 per cent, while the S&P 500 climbed 2.72 per cent and the Nasdaq 3.26 per cent. All 11 major sectors of the S&P 500 gained, with technology up 4.0 per cent and finance 3.2 per cent.

On Monday, after a negative opening, the benchmark indices staged a smart pullback to settle higher. The Sensex ended at 33,066, up 469.87 points, while the broader Nifty50 closed at 10,130, up 132.60 points. 

Below are the intraday trading tips for Tuesday's trade:

STATE BANK OF INDIA (SBI)

Target: Rs 252
Stoploss: Rs 245 
CMP: Rs 247

Pullback possible in banking stocks on short-covering
OI slipped 28 per cent

UNION BANK 

Target: Rs 95
Stoploss: Rs 90 
CMP: Rs 91.70

The stock may settle after weakness for many days
OI slipped 34 per cent

PFC 

Target: Rs 90
Stoploss: Rs 86 
CMP: Rs 87

Pullback possible after a steep fall in March so far
Short-covering in futures trade; can settle in support zone

MANAPPURAM FINANCE

Target: Rs 114
Stoploss: Rs 107 
CMP: Rs 109

Buying possible in financials 
The stock trading above all moving averages on daily chart

ABAN OFFSHORE 

Target: Rs 170
Stoploss: Rs 159 
CMP: Rs 161

Brent crude trading above $70
The stock trading in range for last 10 days; pullback possible

ADANI ENTERPRISES

Target: Rs 170
Stoploss: Rs 162 
CMP: Rs 165

The stock jumped in previous session with heavy volumes on short-covering 
OI slipped 15 per cent; stock above 200-DEMA

BEL 

Target: Rs 148
Stoploss: Rs 141 
CMP: Rs 143

Strong short-covering in futures trade
OI slipped 17 per cent; the stock found support at Rs 140

AMBUJA CEMENTS 

Target: Rs 236
Stoploss: Rs 226 
CMP: Rs 229

Buying witnessed in last two days
Pullback possible; recovery from lower levels 

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