FAST MONEY: Fortis Healthcare, Just Dial among key intraday trading tips
Sensex today: The benchmark indices are expected to trade volatile as investors keep a close eye on the outcome of Karnataka Assembly Elections 2018. Counting of votes for the Karnataka Assembly elections began this morning, in what is expected to be a nail biting finish, with most of the exit polls predicting a hung assembly.
A total of 222 of the 224 seats went for polls on May 12 involving a three-cornered contest between the ruling Congress, the BJP and former prime minister H D Deve Gowda’s JD(S).
Investors also await monsoon forecast by India Meteorological Department. IMD will share its forecast for arrival of monsoon in Kerala later in the day. Notably, private weather agency Skymet predicted the Southwest Monsoon to hit Kerala on May 28, four days ahead of its normal onset date. The normal date for onset of the monsoon in Kerala is June 1.
Here are key intraday trading tips for Tuesday’s trade:
1. BUY Praj Industries
Target: Rs 105
Stoploss: Rs 98
Food ministry in favour of cutting GST rate on ethanol from present 18 per cent to 12 per cent.
Breakout in stock with heavy volumes in previous session
2. BUY Fortis Healthcare
Target: Rs 155
Stoploss: Rs 147
The company received fresh offer from Manipal-TPG
Offering 180/share for stake sale
3. SELL Just Dial
Target: Rs 400
Stoploss: Rs 423
Weak structure on charts
The stock settled at day’s low with just 7% delivery
4. Buy Nagarujana Fertiliser
Target: Rs 18
Stoploss: Rs 15.2
IMD to release report on monsoon
Farmers may receive debt relief post Karnataka elctions
5. Dolphin Off
Target: Rs 90
Stoploss: Rs 84
Brent crossed $78; at November 2014 peak
Crude excess supply almost over: OPEC
Global supply reduced on production cut in Venezuela
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)