Intraday Trading Tips

The Indian market opens for trade this morning on a subdued note despite steady global cues. Earlier, the US markets ended flat with the Dow up 60 and Nasdaq up 17 odd points while Asia is mixed at this hour. Sensex is trading at 16451, down 14 points from its previous close, and Nifty is at 4956, down 11 points. CNX Midcap index is up 0.3% and BSE Smallcap index is up 0.1%. The market breadth is positive with advances at 368 against declines of 163 on the NSE.

Buy Jain Irrigation with a target of Rs 110 and stop loss of Rs 97.50. The stock is currently trading at Rs 102.30, up 1.6% on the BSE.

Sell ICICI Bank January Futures with 1-2 day targets of Rs 775 and 766 and stop loss of Rs 797. The stock is currently trading at Rs 773.70, down 1.5% on the BSE.

Buy Ambuja Cements at Rs 154-155 with a target of Rs 165 plus and stop loss of Rs 152. The stock is currently trading at Rs 158.70, up 1% on the BSE.