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Last Updated : Apr 18, 2019 08:57 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 12-20% return

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 4 points or 0.03 percent. Nifty futures were trading around 11,853-level on the Singaporean Exchange.

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The Nifty50 is likely to open flat on Thursday following muted trend seen in other Asian markets. The index closed 96 points higher at 11,787 on Tuesday.

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 4 points or 0.03 percent. Nifty futures were trading around 11,853-level on the Singaporean Exchange.

US stocks ended slightly lower on Wednesday as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China, said a Reuters report.

Close

Asian shares were subdued on Thursday after a negative performance on Wall Street, with caution ahead of business surveys in Europe and Japan, and the Good Friday and Easter holidays keeping investors on the sidelines, it said.

The Indian rupee on April 16 lost another 18 paise to close at 69.60 against the US dollar, marking its third straight session of decline owing to sustained demand for the greenback from importers and rising global crude oil prices.

Stocks in news:

RIL will be in focus ahead of Q4 results and a news paper report said that Saudi Aramco which is the world's largest crude oil producer, is in "serious discussions" to acquire up to a 25 percent stake in Reliance Industries' refining and petrochemicals businesses.

Wipro has reported 1 percent sequential fall in fourth quarter consolidated profit at Rs 2,483.5 crore on weak revenue growth. The IT services revenue guidance for the first quarter of the financial year 2019-20 was also lower than analyst estimates.

The mid-sized IT firm on April 17 reported an 8.9 percent growth in consolidated net profit at Rs 198.4 crore for the March 2019 quarter. But, there is one more thing ahead of a potential takeover of the company by L&T, Mindtree's board also proposed to pay a handsome Rs 320 crore special dividend to its shareholders including promoters.

Technical Recommendations:

We spoke to Sanctum Wealth Management and here’s what they have to recommend:

ICICI Bank Ltd: Buy| LTP: Rs 407| Stop Loss: Rs 385| Target: Rs 475| Upside 16%

Vinati Organics Ltd: Buy| LTP: Rs 1742| Stop Loss: Rs 1675| Target: Rs 1950| Upside 12%

Indian Hotels Company Ltd: Buy| LTP: Rs 154| Stop Loss: Rs 146| Target: Rs 185| Upside 20%

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 Apr 18, 2019 08:49 am
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