Moneycontrol
Last Updated : Dec 07, 2018 09:27 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks that could return 6-14%

Trends on SGX Nifty indicate that the index will open 51 points (0.48 percent) higher in India. Nifty futures were trading around 10,675 on the Singaporean exchange

Moneycontrol News @moneycontrolcom

The Nifty is likely to open higher on Friday, tracking positive moves in other Asian markets. The index closed 181 points lower at 10,601 on Thursday.

Trends on SGX Nifty indicate that the index will open 51 points (0.48 percent) higher in India. Nifty futures were trading around 10,675 on the Singaporean exchange.

The S&P 500 and Dow Jones Industrial Average ended slightly in the red but well above their session lows amid volatile trading on Thursday, as the arrest of a Chinese technology executive fanned fears of a deterioration of US-China trade relations, while some beaten-up big technology and internet stocks posted gains, Reuters reported.

Asian markets tried to find their footing on Friday as speculation that the Federal Reserve might be “one-and-done” with US rate hikes helped salve some wounds after a punishing week.

The rupee depreciated 44 paise to close at 70.90 to the US dollar on December 6 as the dollar gained in the international market and the domestic stock market fell.

Stocks in the news:

The Cabinet Committee on Economic Affairs on Thursday approved the sale of the government's 52.63 percent stake in REC Ltd to Power Finance Corporation (PFC).

A booster for HCL Tech: IBM said that it will sell some of its software products business to Indian software services exporter HCL Technologies for $1.80 billion.

Khadim India: The company has issued the commercial paper for an aggregate amount of Rs 30 crore.

Cadila Healthcare and Zydus Wellness: Company entered into a share subscription agreement (SSA) with subsidiary Zydus Wellness to subscribe to 85,02,170 equity shares at an issue price of Rs 1,382 amounting to Rs 11,74,99,98,940.

Technical Recommendations:

We spoke to Ways2Wealth Brokers Pvt Ltd. and here’s what they have to recommend:

PVR: Buy above 1531| LTP: Rs 1489| Target 1700| Stop Loss: Rs 1428| Return 14%

Voltas: Sell around 537| LTP: Rs 538| Target 480| Stop Loss: Rs 570| Return 11%

RIL: Sell around Rs 1,130 - 1,140| LTP: Rs 1123| Target: Rs 1050 - 1016| Stop Loss: Rs 1187| Return 6%

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 Dec 7, 2018 08:50 am
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