Market Headstart: Nifty likely to open higher; 3 stocks which could give 9-13% return

The Nifty50 is expected to open higher on Tuesday following positive trend seen in other Asian markets. The index closed 35 points higher at 11,462 on Monday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 21 points or 0.18 percent. Nifty futures were trading around 11,532-level on the Singaporean Exchange.

Banks and tech helped lead Wall Street higher on Monday, while Boeing and Facebook were a drag and investors eyed this week’s US Federal Reserve meeting for affirmation of its commitment to “patient” monetary policy, said a Reuters report.

Asian shares treaded water on Tuesday ahead of a US Federal Reserve policy meeting, hovering near six-month highs, while sterling was choppy as the speaker of Britain’s parliament banned another vote on same Brexit deal, it said.

The Indian rupee on Monday surged by 57 paise to close at an over seven-month high of 68.53 against the US dollar, also marking a sixth straight session of gains, driven by sustained foreign fund inflows and narrowing trade deficit.

Stocks in news:

Racing against time to meet the Supreme Court's deadline, Reliance Communications (RCom) has paid Rs 458.77 crore of dues to Swedish telecom equipment maker Ericsson, according to sources.

Jet Airways Ltd said on Monday it has grounded four more planes and would delay paying interest on maturing debt in a fresh sign of deepening liquidity crisis engulfing the Indian carrier saddled with over $1 billion debt.

The country's largest car maker Maruti Suzuki India (MSI) cut production by over 8 percent in February on account of subdued demand. The auto major produced a total of 1,48,959 units, including Super Carry LCV, across its factories last month, down 8.3 percent from 1,62,524 units produced in the year-ago period, the company said in a regulatory filing.

Technical Recommendations:

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

PNB: Buy| LTP: Rs 86.54| Target: Rs 96| Stop-Loss: Rs 81| Return 11%

IOC: Buy| LTP: Rs 163| Target: Rs185| Stop-Loss: Rs 150| Return 13%

Petronet LNG: Buy| LTP: Rs 244|Target: Rs 265 |Stop-Loss: Rs 231|Return 9%

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