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Last Updated : Feb 13, 2019 08:26 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 8-10% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 21.5 points or 0.2 percent. Nifty futures were trading around 10,883-level on the Singaporean Exchange.

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The Nifty50 is likely to open higher on Wednesday following positive trend seen in other Asian markets. The index closed 57 points lower at 10,831 on Tuesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 21.5 points or 0.2 percent. Nifty futures were trading around 10,883-level on the Singaporean Exchange.

Wall Street rallied on Tuesday as investors were heartened by a tentative congressional spending deal to avoid another partial federal government shutdown and by optimism surrounding US-China trade negotiations, said a Reuters report.

Close

Asian stocks pulled ahead and safe-haven government bonds came under further pressure on Wednesday on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute, it said.

On the earnings front, as many as 534 companies on the BSE will report their results for the quarter ended December which include names like 8K Miles, Adani Transmission, Bharat Forge, BOSCH, lemon Tree Hotels, Mcnally Bharat, NBCC, Prabhat Dairy and Take Solutions among others.

Stocks in news:

Coal India Ltd, the world's biggest coal miner, reported a 50.1 percent jump in third-quarter profit on Tuesday as it benefited from higher coal production.

The government's share sale in Axis Bank held through SUUTI witnessed a blockbuster start with institutional investors putting in bids worth over Rs 8,000 crore by lapping up 2.56 times the shares reserved for them on the first day of the offer for sale (OFS). The issue will open for retail investors on Wednesday.

Sun Pharmaceutical Industries, India’s largest drugmaker said its net profit jumped 286.1 percent to Rs 1,241.1 crore in the third quarter ended December 2018, beating analyst estimates by a wide margin, helped by a strong recovery of US generics business.

Technical Recommendations:

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

Tech Mahindra: Buy| LTP: Rs 805.35| Target: Rs 885| Stop-loss Rs 760| Upside 10%

Kotak Mahindra Bank: Buy| LTP: Rs 1298| Target: Rs 1400 | Stop-Loss: Rs 1247 | Upside 8%

ITC: Buy| LTP: Rs 275| Target: Rs 298 |Stop-loss Rs.265 |Upside 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.

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First Published on Feb 13, 2019 08:24 am
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