Moneycontrol
Last Updated : Oct 01, 2018 04:43 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 6-14%

Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 12 points or 0.11 percent. Nifty futures were trading around 10,971-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open on a flat-to-positive note on Monday following a mixed trend seen in other Asian markets. The index closed 47 points lower at 10,930 on Friday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 12 points or 0.11 percent. Nifty futures were trading around 10,971-level on the Singaporean Exchange.

The US dollar rose on Friday as the euro fell on deepening worries about an Italian budget with a higher-than-expected deficit target, which also slammed European stocks, said a Reuters report.

Asia markets are trading mixed this Monday morning led by data released on Sunday showing a slowdown in China's manufacturing sector, it said.

Oil prices opened firmly on Monday, with Brent hovering close its highest in nearly four years ahead of US sanctions against Iran that kick in next month.

Stocks in news:

IL&FS Transportation Networks: India Ratings withdrawn its rating on company's commercial papers of Rs 310 crore while CARE downgraded rating on long term bank facilities of Rs 2,241.5 crore, short term bank facilities of Rs 230 crore, non-convertible debentures to D.

Bharti Airtel: In clarification note company said company on its own or through its subsidiary companies keeps on evaluating various opportunities of fund raising (both equity and debt) as per its requirement in ordinary course of business.

Mahindra & Mahindra: CRISIL reaffirmed its ratings to Mahindra & Mahindra's long term bank loan facilities Rs 1,100 crore to AAA/Stable and short term facilities to A1+.

Minda Industries completed the acquisition of 41.67% stake in Toyoda Gosei Minda India

Ashiana Housing: Executive committee of directors allotted 1,874 un-secured non-convertible debentures on private placement basis for an amount of Rs 18.74 crore.

MCA has ordered inspection of books of accounts of Vakrangee for a period of three financial years

Bandhan Bank: RBI froze remuneration of MD & CEO till further notice.

Technical Recommendations:

We spoke to Way2Wealth Brokers Pvt. Ltd and here’s what they have to recommend:

ITC: Buy| LTP: Rs 296.70| Buy around 295| Target: Rs 315| Stop Loss: Rs 287| Return 6%

Titan Company Ltd: Sell| LTP: Rs 805.50| Sell around Rs 820 – 825| Target: Rs 740| Stop Loss Rs 861| Return 8%

V-Guard: Sell| LTP: Rs 176.35| Sell around Rs 180 – 182| Target: Rs 150| Stop Loss: Rs 194| Return 14%

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 Oct 1, 2018 08:39 am
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