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Last Updated : Feb 04, 2019 08:45 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 6-15% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 14.5 points or 0.13 percent. Nifty futures were trading around 10,897-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Monday tracking muted trend seen in other Asian markets. The index closed 62 points higher at 10,893 on Friday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 14.5 points or 0.13 percent. Nifty futures were trading around 10,897-level on the Singaporean Exchange.

Wall Street ended mixed on Friday, as optimism from a surge in January US job growth was offset by a weaker-than-expected outlook from Amazon.com Inc that battered retail stocks, said a Reuters report.

Asia stocks were barely moved on Monday, staying near a four-month high after Wall Street’s tepid pre-weekend performance, while the dollar was supported against the yen following strong US jobs and manufacturing data, it said.

On the earnings front, as many as 100 companies on the BSE will be declaring their Budget for the quarter ended December later today which include names like Aban Offshore, Balrampur Chini, Exide Industries, Godrej Agrovet, IDBI Bank, Novartis India, Reliance Naval, SPARC, Welspun India, and Whirlpool India among others.

Stocks in news:

Reliance Communications Ltd (RCom) will propose a plan to sell its telecom infrastructure assets, airwaves and real estate to resolve its debt, the firm said on Sunday.

CARE Ratings on Sunday downgraded DHFL non-convertible debentures (aggregating Rs 46,655 crore), fixed deposit programme (Rs 20,000 crore) and long-term bank facilities (Rs 42,714 crore).

Drug firm Lupin is recalling from the US and Puerto Rico over 24 thousand bottles of Fluocinolone Acetonide topical solution used for the treatment of a variety of skin conditions.

Technical Recommendations:

We spoke to Angel Broking and here’s what they have to recommend:

Godfrey Phillips Ltd: Buy| LTP: Rs 942.75| Target: Rs 1020| Stop Loss: Rs 903| Return 8%

Jubilant FoodWorks Ltd: Buy| LTP: Rs 1357.95| Target: Rs 1565| Stop Loss: Rs 1212| Return 15%

Titan Company Ltd: Buy| LTP: Rs 991.55| Target: Rs 1055| Stop Loss: Rs 964| Return 6%

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.
First Published on Feb 4, 2019 08:45 am
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