Moneycontrol
Last Updated : Mar 14, 2018 10:58 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which can give up to 14% return

According to Pivot charts, the key support level is placed at 10,376.87, followed by 10,326.93. If the index starts to move higher, key resistance levels to watch out are 10,477.67 and 10,528.53.

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The Nifty50 is expected to open flat with a negative bias on Wednesday tracking weak handover from Wall Street and muted trend seen in other Asian markets. The Nifty50 closed 5.45 points higher at 10,426 on Tuesday.

According to Pivot charts, the key support level is placed at 10,376.87, followed by 10,326.93. If the index starts to move higher, key resistance levels to watch out are 10,477.67 and 10,528.53.

Wall Street’s major indexes fell on Tuesday as the dismissal of U.S. Secretary of State Rex Tillerson and the possibility of additional U.S. import tariffs against China dragged down stocks across sectors, a Reuters report said.

The Dow Jones Industrial Average fell 171.58 points, or 0.68 percent, to 25,007.03, the S&P 500 lost 17.71 points, or 0.64 percent, to 2,765.31 and the Nasdaq Composite dropped 77.31 points, or 1.02 percent, to 7,511.01.

Asian markets tracked losses seen on Wall Street early on Monday, following the sacking of US Secretary of State Rex Tillerson, and amid talk of potential US tariffs against China. The Nikkei 225 fell 0.94 percent, or 207.05 points while the Kospi edged down by 0.6 percent in the morning, CNBC reported.

Stocks in news:

Balrampur Chini: CRISIL has rated its loan facilities. Total bank facilities rated is worth Rs 2,283 crore and have been rated AA/Stable for the long term rating.

L&T Finance Holdings: The company has successfully closed QIP of up to Rs 1,000 crore.

Gitanjali Gems: NSE has fined the company, along with others viz. ABG Shipyard, Amtek Auto, DS Kulkarni Developers, Bharati Defence and Infrastructure, Educomp Solutions, Shree Renuka Sugars, Moser-Baer (I) and Sterling Biotech for failing to file December quarter results.

Phoenix Mills: According to a Mint report, the company is planning to more than double its office portfolio to 3.5 million sq.ft in four years.

NTPC: The firm has commissioned third unit of Kudgi Super Thermal Power Station, according to Hindu Business Line.

Technical Recommendations:

Here’s what SMC Global Securities has to recommend:

Trent Ltd: BUY| Target Rs385| Stop Loss Rs315| Return 13%

Avenue Supermarts Ltd: BUY| Target Rs1466| Stop Loss Rs1240| Return 11%

V2Retail Ltd: BUY| Target Rs492| Stop Loss Rs396| Return 14%
First Published on Mar 14, 2018 09:08 am
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