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

The Nifty50 is likely to open flat on Wednesday following a mixed trend seen in other Asian markets. The index closed 60 points higher at 10549 on Tuesday. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 23.5 points or 0.22 percent. Nifty futures were trading around 10,576-level on the Singaporean Exchange. The S&P 500 and the Dow closed marginally lower after volatile trading on Tuesday as investors swiveled their focus between China-U.S. trade talks, President Donald Trump’s threat to shut down the US government and political uncertainty in Britain, said a Reuters report. Asian stock markets edged ahead on Wednesday as US President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with talk of an imminent party coup against British Prime Minister Theresa May, it said. Shaktikanta Das, member of the 15th Finance Commission and former Economic Affairs Secretary, will take over as the new Reserve Bank of India Governor, the government said on December 11. Stocks in news: Drug firm Aurobindo Pharma said its arm Helix Healthcare BV has entered into a pact with Shandong Pharmaceutical Group Stock Co to establish a JV firm in China to manufacture nebulizer inhaler and other products for China, the US, and the EU. Dr. Reddy’s Laboratories Ltd. will have to wait a little longer before it can start selling a generic version of Indivior Plc’s Suboxone Film opioid addiction treatment, a U.S. appeals court ruled Tuesday. Tata Sponge Iron: Competition Commission of India approved the acquisition of steel division of Usha Martin Limited by Tata Sponge Iron. IOC: The Government of India reduced its stake in the company by 2.69 percent to 54.06 percent. Cadila Healthcare: Competition Commission of India approved the acquisition of businesses of Heinz by Zydus/Cadila. Technical Recommendations: We spoke to SMC Global Securities and here’s what they have to recommend:Dr. Reddy's Laboratories Limited: Buy| Target: Rs 2950| Stop Loss: Rs 2520| Return 10% Federal Bank Limited: Buy| Target: Rs 91| Stop Loss: Rs 77| Return 10% Glenmark Pharmaceuticals Limited: Buy| Target: Rs 715| Stop Loss: Rs 610| Return 10% Disclaimer: The views and investment tips expressed by investment experts 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.