Market Headstart: Nifty likely to open flat; 3 stocks which could give 7-17% return

The Nifty50 likely to open flat on Thursday following mixed trend seen in other Asian markets. The index closed 40 points higher at 11,341 on Wednesday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 1.5 points or 0.01 percent. Nifty futures were trading around 11,385-level on the Singaporean Exchange.

US stocks rose on Wednesday, led by gains in healthcare shares, and Boeing edged upward even as the United States joined other nations in grounding the company’s 737 MAX jets, said a Reuters report.

Asian shares paused on Thursday as investors awaited data from China for clues about the health of the world’s second largest economy while the pound shot up to near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote, it said.

The Indian rupee on Wednesday clocked its third straight session gains, rising 17 paise to close at a fresh two-month high of 69.54 against the US dollar on sustained foreign fund flows.

Stocks in news:

Promoter entities of Bajaj Consumer Care have sold 6.85 percent stake in the FMCG firm for about Rs 320 crore through an open market transaction.

The National Company Law Appellate Tribunal Tuesday reserved its order on a petition by Reliance Communications which has approached the tribunal seeking the release of income tax refunds to clear dues of Ericsson.

Grappling a shortfall in tax revenues, the government has pressed cash-rich PSUs like Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC) to pay a second interim dividend for the current fiscal after seeking regulatory nods.

Technical Recommendations:

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

PVR Limited: Buy| Target: Rs 1805| Stop Loss: Rs 1497| Upside 11%| Time Frame 6 months

Canara Bank: Buy| Target: Rs 280| Stop Loss: Rs 245| Upside 7% | Time Frame 14 days

Narayana Hrudayalaya: Buy| Target: Rs 262| Stop Loss: Rs 199 | Upside 17%| Time Frame 6 months

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