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Last Updated : Jan 17, 2019 08:41 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 7-9% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 16 points or 0.15 percent. Nifty futures were trading around 10,941-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Thursday following positive trend is sa een in the US markets and SGX Nifty. The index closed 3.5 points higher at 10,890 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 16 points or 0.15 percent. Nifty futures were trading around 10,941-level on the Singaporean Exchange.

Wall Street’s major indexes hit one-month highs on Wednesday as strong earnings from Bank of America Corp and Goldman Sachs Group Inc boosted investor sentiment, said a Reuters report.

Asian shares crept higher on Thursday as upbeat bank earnings bolstered Wall Street, while an anti-climactic end to the latest chapter in the Brexit saga gave sterling a moment’s peace, it said.

On the earnings front, as many as 19 companies on the BSE will declare their results for the quarter ended December which include names like AU Small Finance, Cyient, Federal Bank, HUL, Rallis India, Reliance Industries, and Mastek etc. among others.

Stocks in news:

SBI plans to sell over Rs 15,000 crore worth bad loans belonging to Essar Steel to recover its dues from the debt-laden steel maker.

Mid-sized IT firm Mindtree on Wednesday posted 35.1 percent rise in consolidated net profit at Rs 191.2 crore for the December 2018 quarter as against the year-ago period.

Phillips Carbon Black (PCBL) on Wednesday reported a 92-per cent on-year jump in net profit to Rs 108.58 crore in the December quarter, riding on higher realisations from specialised and value-added products.

Technical Recommendations:

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

Lupin: Buy| LTP: Rs.863.20 | Target Rs 928| Stop Loss: Rs 837| Return 7.50%

Hindalco Industries Ltd: Buy| LTP: Rs 208.40 | Target: Rs 228| Stop Loss Rs.199| Return 9%

Dr Lal Pathlabs: Buy| LTP: Rs 1021.35 | Target: Rs 1080-1100| Stop Loss: Rs.978| Return 7%

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 17, 2019 08:41 am
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