FAST MONEY: YES Bank, Wipro, IDBI Bank among 8 intraday trading tips
FAST MONEY: YES Bank, Wipro, IDBI Bank among 8 intraday trading tips
The benchmark indices are expected to open lower on Wednesday after Asian markets pulled back as Wall Street was knocked hard on concerns about tighter regulations on the tech industry, denting a brief global equities recovery driven by hopes of easing fears of a trade war between China and the United States.
Back home, investors would stay cautious ahead of the expiry of March derivative series later today. The stock market will stay shut on Thursday and Friday and resume trading next week on Monday.
Overseas, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent, with tech-heavy Korean shares falling 1.0 per cent. Japan's Nikkei fell 2.1 per cent.
On Wall Street, the S&P 500 lost 1.73 per cent and the Nasdaq Composite dropped 2.93 per cent, making their fourth decline in five sessions.
The tech sector were the worst hit as the industry came under more scrutiny, led by a 4.9 per cent fall in Facebook, which has been embroiled in a scandal over the use of data by political consultants.
On Tuesday, The Sensex settled the day at 33,174, up 107.98 points, while the broader Nifty50 ended at 10,184, up 53.50 points. In the broader market, the BSE Midcap and the BSE Smallcap indices outperformed to rally 1 per cent and 1.36 per cent.
Here are the key intraday tips for Wednesday's trade:
YES Bank (Buy)
Target: Rs 311
Stoploss: Rs 300
- Board approved to demerge hospital business
- Fortis Healthcare’s hospital division will be merged with Manipal Hospitals YES Bank has 15% stake in Fortis
NIIT Tech (Sell)
Target: Rs 870
Stoploss: Rs 895
Heavy selling in stock in last one hour of trade
US considers curbs on Chinese investments in technology deemed sensitive: Bloomberg
Wipro (Sell)
Target: Rs 265
Stoploss: Rs 275
The stock setlled near day's low in previous session
IT shares battered in US
US considers curbs on Chinese investments in technology deemed sensitive: Bloomberg
IDBI Bank (Sell)
Target: Rs 74.2
Stoploss: Rs 77.1
Found lapses in some loan disbursals in Andhra Pradesh
The stock trades weak on weekly chart
Adlabs (Buy)
Target: Rs 49
Stoploss: Rs 46.5
Buying possible before long weekend
The stock rallied with heavy volumes in last hour of trade
Cummins (Sell)
Target: Rs 690
Stoploss: Rs 710
Profit-booking in stock after two-day fall
The stock trading below all key averages on daily, weekly charts
Spicejet (Buy)
Target: Rs 130
Stoploss: Rs 124
Deal with CDB Aviation
Lease Agreement For Five 737 Max Aircraft
Mercator (Buy)
Target: Rs 35
Stoploss: Rs 33.6
The stock collected Rs 100 crore via bond issuance to UTI
Rs 100 crore additional funds to be raised too
(Stocks mentioned are for informational purpose. Consult your financial advisor before investing.)
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