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Last Updated : May 15, 2019 08:46 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 5-11% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 24.5 points or 0.22 percent. Nifty futures were trading around 11,236-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Wednesday as Asian markets wobble near three-and-a-half month low on lingering concerns over the economic impact of a U.S.-China trade war.

Technology stocks led the S&P 500 and the Nasdaq higher on Tuesday, with US stocks reclaiming ground lost to Monday’s steep sell-off as investors took heart from a tonal shift in ongoing U.S. trade negotiations with China, said a Reuters report.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 24.5 points or 0.22 percent. Nifty futures were trading around 11,236-level on the Singaporean Exchange.

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As many as 84 companies will declare their results for the quarter ended March which include names like Adani Power, Aditya Birla Fashion, Ajmera Realty, Amara Raja Batteries, Dalmia Bharat, Deep Industries, Lupin, Seamec, Suven Life Sciences, Torrent Power, etc. among others.

Stocks in news:

State-owned Union Bank of India on May 14 said its net loss widened to Rs 3,370 crore in the fourth quarter of 2018-19, mainly on account of higher provisioning.

FMCG major Nestle India May 14 reported a 9.25 percent rise in profit to Rs 463.28 crore for the first quarter ended March 31, 2019.

State-owned UCO Bank May 14 said its net loss has narrowed to Rs 1,552.02 crore in March 2019 quarter, amid a persistently high level of bad loan ratio.

The chief executive and head of finance at Jet Airways have both quit, the Indian company said on Tuesday, further eroding hopes of a rescue of the debt-laden carrier that grounded operations last month.

Technical Recommendations:

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

Bajaj Auto Limited: Sell| Target: Rs 2805| Stop Loss: Rs 3040| Downside 5%

DCB Bank Limited: Buy| Target: Rs 239| Stop Loss: Rs 202| Upside 11%

Titan Company Limited: Buy| Target: Rs 1245| Stop Loss: Rs 1100| Upside 8%

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 15, 2019 08:41 am
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