Markets at pre-open Index Current Pt. Change % Change S&P BSE SENSEX 34,611.20 -40.04 -0.12 S&P BSE SENSEX 50 11,055.98 +25.95 +0.24 S&P BSE SENSEX Next 50 32,446.18 +43.07 +0.13 S&P BSE 100 10,872.75 +23.59 +0.22 S&P BSE Bharat 22 Index 3,528.02 +17.63 +0.50 (Source: BSE) Buy Pidlite, Tata Elxsi: Motilal Oswal Securities PIDILITE Reco: BUY Last Close: 1118 Stop Loss : 1092 Target : 1055 It is on the verge of pole & flag breakout. RSI witnessed positive crossover with rise in volume. TATA ELXSI Reco: BUY Last Close: 1169.45 Stop Loss : 1135 Target : 1240 On the verge to triangle breakout It is on the verge of pole & flag breakout. RSI moving north ways in all timeframe. READ MORE Top trading ideas from Prabhudas Lilladher for today BUY CROMPTON GREAVES CONSUMER CMP : Rs 243.90 TARGET : Rs 260 STOP L OSS : Rs 230 The stock has been in consolidation for quite some time at around 240 levels and currently has maintained above the 34WMA moving averages to indicate a positive bias and is poised for an up move in the coming days. Also it has moved above the 200 DMA and has made the chart look attractive for a bounce up to 255-260 levels. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 260 keeping a stop loss of 230. READ MORE Today's picks: From Infosys to IOC, hot stocks to watch on Wednesday Infosys Current price: Rs 1,194 Target price: Rs 1,215 Keep a stop at Rs 1,185 and go long. Add to the position between Rs 1,205 and Rs 1,210. Book profits at Rs 1,215. READ MORE Nifty outlook by HDFC Securities Nifty breaks the 5 session’s losing streak by rising 20 points, to close at 10536. Midcaps and smallcaps have been hammered down significantly recently. We are in fag end of the result season and considering the oversold conditions, we expect midcaps to recoup some of their losses in the coming days. However, considering the overall trend, Nifty should be sold in the pullbacks. Range of 10600-10650 should be utilized to initiate fresh shorts with a stop loss of 10700. Support for the Nifty is seen at 10325. READ MORE Oil dips after rally, OPEC may ease supply curbs Oil prices edged lower on Wednesday as the market took a breather on expectations OPEC may raise supplies as early as June, although geopolitical risks kept a floor under the market. Brent futures dipped 4 cents to $79.53 a barrel, after climbing 35 cents on Tuesday. Last week, the global benchmark hit $80.50 a barrel, the highest since November 2014. US West Texas Intermediate (WTI) crude futures eased 2 cents to $72.18 a barrel, having climbed on Tuesday to $72.83 a barrel, the highest since November 2014. READ MORE Representative Image
The markets are likely to open on a cautious note on Wednesday, taking cues from their Asian counterparts.
In the global markets, Asian stocks slipped Wednesday after US President Donald Trump's said he was "not satisfied" with the latest round of trade talks with China, with Japan leading losses in the region.
Japan's Nikkei 225 fell 1.29 per cent amid the move higher in the yen and the broader Topix was off by 0.98 per cent. MSCI's index of shares in Asia Pacific excluding Japan slipped 0.11 per cent in morning trade and equity benchmarks from Hong Kong to Sydney fell.
Beyond geopolitics, the Federal Reserve will release minutes of its latest policy meeting later today.
On Wall Street, US stocks ended lower on Tuesday, weighed down by lingering uncertainty over the outcome of trade talks between the US and China and declines in energy and industrial shares.
The Dow Jones Industrial Average fell 178.88 points, or 0.72 per cent, at 24,834.41, the S&P 500 lost 8.57 points, or 0.31 per cent, to 2,724.44 and the Nasdaq Composite dropped 15.58 points, or 0.21 per cent, to 7,378.46.
(with wire inputs)