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Last Updated : May 21, 2019 08:53 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 10-16% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 23 points or 0.20 percent. Nifty futures were trading around 11,888-level on the Singaporean Exchange.

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The Nifty50 is expected to open flat-to-higher on Tuesday despite muted trend seen in other Asian markets. Overnight, US markets slipped as White House’s restrictions on Chinese telecoms equipment maker Huawei Technologies Co Ltd weighed on the technology sector.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 23 points or 0.20 percent. Nifty futures were trading around 11,888-level on the Singaporean Exchange.

The rupee Monday appreciated by 49 paise, the biggest single-day gain in two months, to close at 69.74 against the US dollar following sharp gains in equities and forex inflows after exit polls suggested another term for the ruling NDA government.

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As many as 96 companies will declare their results for the March quarter which include names like Bharat Financial, BOSCH, CARE Ratings, DLF, Tech Mahindra, Timken India, Vaibhav Global, KEI Industries, JSPL, and Aarti Industries among others.

Stocks in news:

Tata Motors has reported a 49 percent fall in its consolidated net profit at Rs 1,108 crore. The company had reported a profit of Rs 2,175 crore in a year ago period.

Hindustan Petroleum Corp Ltd (HPCL) on May 20 reported a 70 percent jump in its fourth-quarter net profit as inventory gains and rupee appreciation negated a dip in refinery margins.

Infrastructure major Larsen and Toubro (L&T) on May 20 acquired 73,953 shares of Mindtree from the open market, taking its shareholding in the IT services firm to 26.53 percent, according to a regulatory filing.

Technical Recommendations:

We spoke to HDFC Securities and here's what they have to recommend:

State Bank of India: Buy| LTP: Rs 344.7| Target: Rs 400| Stop-Loss: Rs 320| Upside 16%

Axis Bank: Buy| LTP: Rs 782| Target: Rs 860| Stop-Loss: Rs 750| Upside 10%

Larsen & Toubro: Buy| LTP: Rs 1451| Target: Rs 1650| Stop-Loss: Rs 1350| Upside 14%

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on May 21, 2019 08:44 am
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