FAST MONEY: Wipro, HDFC, Axis Bank among top ten intraday trading calls

The benchmark indices are expected to open flat on Tuesday, tracking negative trend in Asian markets after Wall Street retreated from its highs as the FBI raided the offices of US President Donald Trump’s long time lawyer, dampening risk appetite already under strain from an escalating US-China trade spat. At 8:40 am, SGX Nifty was trading at 10,435, up 42 points or 0.40 per cent. 

Back home, Axis Bank will remain in focus after bank board curtailed the fourth term of its CEO and Managing Director Shikha Sharma to seven months following an unusual request from her that she be relieved on December 2018, 29 months ahead of the scheduled term. The board's decision come amidst RBI raising questions over her re-appointment for the fourth term as MD and CEO of the third largest private sector lender in the wake of mounting non-performing assets (NPAs).

Overseas, MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 per cent. South Korea's KOSPI fell 0.8 percent, while Japan's Nikkei .N225 shed 0.4 percent. News that the Federal Bureau of Investigation had raided the offices and home of Trump’s personal lawyer Michael Cohen on Monday had put a dampener on equities, which had rallied on signs of cooling in the China-US trade spat.

Cohen has been at the centre of a controversy surrounding payment to a porn star who has alleged that she had sex once in 2006 with Trump and was paid money shortly before the 2016 election to keep quiet about it.

On Wall Street on Monday, the S&P 500 stock index gave up intraday gains as much as 1.9 per cent to end up 0.3 per cent.

Here are key trading ideas for today's trade:

1. HDFC (Buy)

Target: Rs 1890
Stoploss: Rs 1820

HDFC upped lending rates by up to 0.20 per cent
New rates effective from April 1
PLR increased for the first time since 2013 

2. D Link (Buy)

Target: Rs 110
Stoploss: Rs 105.5

Board approved buyback of 56 lakh shares
Buyback to take place at Rs 120/share
Buyback on 11% premium 

3. IPCA Lab (Buy)

Target: Rs 690
Stoploss: Rs 665

IDFC Sec raised company's target
New target at Rs 920 from Rs 753
Bad phase to get over soon

4. SKM Egg (Buy)

Target: Rs 97
Stoploss: Rs 93

Buying expected to continue in the stock
After Venky's, this will stay in focus

5. Reliance Naval (Buy)

Target: Rs 31
Stoploss: Rs 27.7

Govt projected Defence roadmap for next 10 years
The country requires 1 plane carrier, 10 fighter jets and 6 missiles

6. Jay Bharat Maruti (Buy)

Target: Rs 495
Stoploss: Rs 478
Q4 results on April 16
The stock may rally ahead of Q4

7. Hind Copper (Buy)

Target: Rs 74
Stoploss: Rs 70.5
Copper prices ticked up 2% in international markets
Higher copper prices to benefit the company 

8. Gravita (Buy)

Target: Rs 177
Stoploss: Rs 171
The company increased granule production from Andhra plant

9. Wipro (Sell)

Target: Rs 276
Stoploss: Rs 282

One of the telecom clients has gone insolvent
Q4 earnings to take a hit 
Net income may dip by 65-75 bps

10. Vedanta (Buy)

Target: Rs 295
Stoploss: Rs 278
Iron ore prices increased 2.5 per cent in international market
Aluminium prices up 4.5 per cent

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