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Last Updated : Jan 11, 2019 08:30 AM IST | Source: Moneycontrol.com

Market Headstart | Nifty likely to open higher; 3 stocks which could give 7-8% return

A positive opening is likely as Nifty Futures on Singaporean Exchange were trading 31 points higher. The futures traded around 10,892-odd levels.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Friday following positive trend seen in other Asian markets. The index closed 33 points lower at 10,821 on Thursday.

A positive opening is likely as Nifty Futures on Singaporean Exchange were trading 31 points higher. The futures traded around 10,892-odd levels.

Wall Street extended its rally into a fifth straight day on Thursday in a session of whipsaw trading as investors responded to mixed comments by Federal Reserve Chairman Jerome Powell, while a warning from Macy’s pummeled retail stocks, said a Reuters report.

Asian stocks inched higher to one-month highs on Friday, after Federal Reserve Chairman Jerome Powell reiterated the US central bank can be patient on raising interest rates further, added the report.

Snapping its two-session slide, the rupee ticked higher by 5 paise to close at 70.41 per US dollar on January 10 on increased selling of the greenback by exporters amid easing crude oil prices.

On the earnings front, as many as 13 companies on the BSE will be reporting their results for the quarter ended December which include names like Infosys, Karnataka Bank, Reliance Industrial Infrastructure etc. among others.

Stocks in news:

TCS reported 2.6 percent sequential growth in December quarter profit at Rs 8,105 crore driven by a 59 percent QoQ increase in other income, but limited by weak operational performance.

Tata Motors: JLR December sales down 6.4 percent to 52,160 units YoY.

A new report highlighted that Bharti Airtel has begun the process of paying Aircel, bringing relief to the bankrupt telco that needs money to maintain assets and pay 3,000 employees. It has also potentially staved off contempt proceedings in Supreme Court.

Technical Recommendations:

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

Divis Labs Ltd: Buy| Target: Rs 1625| Stop Loss: Rs 1468| Returns 7%

UPL: Buy| Target: Rs 825| Stop Loss: Rs 744| Returns 7%

Tata Motors Ltd: Buy| Target: Rs 199| Stop Loss: Rs 179.5| Returns 8%

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 Jan 11, 2019 08:30 am
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