FAST MONEY: Tata Steel, V2 Retail among key intraday trading ideas
The Dow Jones Industrial Average rose 98.46 points, or 0.41 percent, to 24,216.05, the S&P 500 gained 16.68 points, or 0.62 percent, to 2,716.31, and the Nasdaq Composite added 58.60 points, or 0.79 percent, to 7,503.68.
The Sensex and Nifty are expected to open higher on Friday even as Asian markets remained near nine-month lows despite small gains on Wall Street overnight, as ongoing concerns over global trade frictions dampened sentiment, though a move to ease foreign investment curbs in China could boost markets there.
At 7:50 am, SGX Nifty was trading at 10,597.50, up 23 points or 0.22 per cent.
MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, Australian shares were 0.1 percent higher, while Japan’s Nikkei stock index was down 0.2 percent.
Stocks on Wall Street posted small gains on Thursday, helped by financial and technology shares, but broader market sentiment remained subdued on lingering concerns over U.S.-driven trade tensions.
The Dow Jones Industrial Average rose 98.46 points, or 0.41 percent, to 24,216.05, the S&P 500 gained 16.68 points, or 0.62 percent, to 2,716.31, and the Nasdaq Composite added 58.60 points, or 0.79 percent, to 7,503.68.
Here are key intraday trading tips:
Tata Steel (Buy)
Target: Rs 557
Stoploss: Rs 546
Approval to merge steel business with Thyssenkrupp AG
Thyssenkrupp Union approved the merger
Thyssenkrupp will have 55% stake in European steel company
Titan Company (Sell)
Target: Rs 825
Stoploss: Rs 840
Rakesh Jhunjhunwala sells 1.4% stake in Titan
The stakes were sold on May 21
Rakesh Jhunjhunwala now holds 7.37% in the company
Camlin Fine (Buy)
Target: Rs 92
Stoploss: Rs 86
The company will raise $1.5 crore via FCCB
V2 Retail (Buy)
Target: Rs 416
Stoploss: Rs 403
India 2020 Fund II bought 2 lakh shares of the company
The Fund bought 0.6% stake at Rs 405 per share
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Kalpataru Power (Buy)
Target: Rs 398
Stoploss: Rs 389
The company received order worth Rs 1,235 crore
The order is for railway infra construction from Bangladesh Railways
(Stocks mentioned are for informational purpose. Consult your financial advisor before investing.)
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