Moneycontrol
Last Updated : Feb 07, 2019 08:38 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 negative opening for the broader index in India, a fall of 19 points or 0.17 percent. Nifty futures were trading around 11,086-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Thursday following muted trend seen in other Asian markets. The index closed 128 points higher at 11,062 on Wednesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 19 points or 0.17 percent. Nifty futures were trading around 11,086-level on the Singaporean Exchange.

US stocks edged lower on Wednesday as videogame makers gave disappointing revenue forecasts and investors awaited developments on US-China trade relations, said a Reuters report.

Asian share markets were in a muted mood on Thursday and looked set for a sleepy session with China still on holiday and no major economic data on the diary, it said.

On the earnings front, as many as 180 companies on the BSE will declare their results for the quarter ended December which include names like Arvind, Apex Frozen, Bajaj Electricals, Gammon India, IVRCL, MRF, PTC India, SAIL, Tata Motors etc. among others.

Stocks in news:

Siemens on Wednesday reported a 19.7 percent year-on-year rise in its net profit at Rs 228 crore for the quarter ended December 2018, mainly due to higher revenues.

Telecom operator Vodafone Idea on Wednesday reported a consolidated loss of Rs 5,005.7 crore for the third quarter of 2018-19. The books of Vodafone Idea recorded comprehensive loss of Rs 1,284.5 crore in the

Realty major DLF on Wednesday said it would sell shares to institutional investors to raise about Rs 3,000 crore when market conditions are conducive, a senior company official said.

Technical Recommendations:

We spoke to Bonanza Portfolio and here’s what they have to recommend:

Grasim Industries: Buy| CMP: Rs.734 | Target Rs 778| Stop Loss: Rs.710| Return 6%

Eicher Motors: Buy| CMP: Rs. 21,104| Target Rs 22400| Stop Loss: Rs.20400| Return 6%

Bajaj Finance: Buy| CMP: Rs.2711 | Target Rs 2900| Stop Loss: Rs 2629|Return 7%

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 7, 2019 08:38 am
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