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Last Updated : Feb 15, 2019 08:25 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 6-7% return

Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 1 point or 0.01 percent. Nifty futures were trading around 10,794-level on the Singaporean Exchange.

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The Nifty50 is expected to open flat on Friday tracking mixed trend seen in other Asian markets. The index closed 47 points lower at 10,746 on Thursday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 1 point or 0.01 percent. Nifty futures were trading around 10,794-level on the Singaporean Exchange.

The S&P 500 and the Dow slipped while the Nasdaq posted a slim gain on Thursday as investors struggled to square grim retail sales data with hopes that high-level talks in Beijing could resolve the ongoing US-China trade dispute, said a Reuters report.

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Asian stocks slipped on Friday after grim US retail sales figures raised fresh doubts about the strength of the US economy, offsetting optimism on trade talks between the United States and China, it said.

The rupee weakened by 36 paise on Thursday to close at 71.16 per US dollar amid firming crude oil prices and persistent foreign capital outflows.

Stocks in news:

Jet Airways Ltd said on Thursday that its board had approved a debt resolution plan by lenders, led by State Bank of India (SBI) that will give the debt-laden airline funding crucial for its survival. It made a net loss of Rs 588 crore for the three months ended 31 December, compared with a profit of Rs 165 crore a year earlier.

Oil and Natural Gas Corp on Thursday posted a 64.8 percent jump in third-quarter profit, handily beating analysts’ estimates, boosted by higher revenue from offshore operations.

Batteries and flashlights maker Eveready Industries on Thursday reported a multi-fold decline in standalone net profit to Rs 19.71 lakh in the third quarter ended December 31, hit by cost of separation workers at Chennai plant.

Technical Recommendations:

We spoke to IIFL and here’s what they have to recommend for today:

JSW Steel Ltd: Buy| Target: Rs 300| Stop Loss: Rs 270| Upside 7%

Tata Global Beverages: Buy| Target: Rs 200| Stop Loss: Rs 183| Upside 6.5%

GAIL India Feb Futs: Sell| Target: Rs 290| Stop Loss: Rs 317| Downside 6%

Disclaimer: The stocks mentioned are for reference only and not buy or sell ideas. The views and investment tips expressed by investment expert on moneycontrol.com his their 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 Feb 15, 2019 08:25 am
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