Nifty is likely to open flat on May 16 following positive trend seen in other Asian markets on news that US President Donald Trump was planning to delay tariffs on auto imports.
On May 15, US stocks closed higher as trade talks concerns eased. All three major US indices saw their second straight day of gains following May 13 steep sell-off.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 15.5 points or 0.14 percent. Nifty futures were trading around 11,177-level on the Singaporean Exchange.
As many as 74 companies will declare their results for the quarter ended March which include names like Bajaj Finserv, Bajaj Finance, Bank of India, D B Corp, Hindalco Industries, JK Tyres, Praj Industries, and Visa Steel among others.
Stocks in news:
Drug maker Lupin on May 15 said it has received three observations from the US health regulator for its Aurangabad-based manufacturing facility.
Tata Chemicals (TCL) said it will transfer its consumer products business to Tata Global Beverages (TGBL), according to a May 15 release filed with the exchanges.
Torrent Power Wednesday reported over 88% fall in its consolidated net profit at Rs 25.80 crore for the quarter ended March 2019.
Technical Recommendations:
We spoke to Bonanza Portfolio Ltd and here's what they have to recommend:
Ujjivan: Buy| CMP: Rs.317.30| Target: Rs 344|Stop Loss: Rs 307|Upside 8%
Axis Bank: Sell| CMP: Rs.721.95| Target: Rs 670|Stop Loss: Rs.741|Upside 7%
HDFC: Sell| CMP: Rs 1944.95| Target: Rs 1847|Stop Loss: Rs 1993|Upside 7%
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