Market Headstart: Nifty likely to open flat; 3 stocks which could give 7-10% return

The Nifty50 is likely to open flat on Wednesday following muted trend seen in other Asian markets. The index closed 149 points higher at 10,886 on Tuesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 25 points or 0.23 percent. Nifty futures were trading around 10,918-level on the Singaporean Exchange.

Major world stock markets climbed on Tuesday on hopes of more stimulus for China’s economy, while sterling rebounded from the day’s lows after British lawmakers defeated Prime Minister Theresa May’s deal on withdrawing from the European Union, said a Reuters report.

Asian shares took a breather on Wednesday after rallying the previous day on Chinese stimulus hopes, with investors assessing Brexit options after British lawmakers trounced Prime Minister Theresa May’s deal to pull out Britain from the European Union, it said.

On the earnings front, as many as 11 companies will be declaring their results for the quarter ended December on Wednesday which includes names like DCB Bank, HT Media, MindTree, Motilal Oswal, etc. among others.

Stocks in news:

Dr Reddy's Laboratrories on Tuesday said the US health regulator has issued four observations after inspecting its formulations unit in Andhra Pradesh.

Zee Entertainment Enterprises Q3: Consolidated profit jumps to Rs 562.8 crore versus Rs 373.77 crore; revenue rises to Rs 2,168 crore versus Rs 1,838 crore YoY.

Den Networks Q3: Loss at Rs 31.21 crore versus profit at Rs 1.73 crore; revenue dips to Rs 308.4 crore versus Rs 328.2 crore YoY.

Technical Recommendations:

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

ITC Limited: Buy| Target: Rs 313| Stop Loss: Rs 280| Return 7%

Bharti Airtel Limited: Buy| Target: Rs 366| Stop Loss: Rs 310| Return 10%

Tata Motors LTD - DVR Ltd: Buy| Target: Rs 106| Stop Loss: Rs 91| Return 9%

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