Moneycontrol
Last Updated : Jul 23, 2018 08:49 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; top 3 stocks which could give 5-8% return

Trends on SGX Nifty indicate an absolutely flat start to the market on Monday morning. The Nifty futures are currently trading over 11,000-mark, with a gain of 1 point on the Singaporean exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Monday tracking muted trend seen in other Asian markets. The Nifty50 closed 53 points higher on Friday at 11,010.

Trends on SGX Nifty indicate an absolutely flat start to the market on Monday morning. The Nifty futures are currently trading over 11,000-mark, with a gain of 1 point on the Singaporean exchange.

Markets in US closed somewhat flat on Friday even as threats by US President Donald Trump to increase threats was outweighed by strong earnings, said a Reuters report. Asian stocks followed that lead on Monday with Japan’s Nikkei stumbling 0.9 percent.

The S&P 500 slipped 0.1 percent to 2,801.83. The Dow Jones Industrial Average fell just 6.38 points to 25,058.12. For the week, the S&P 500 and Nasdaq closed slightly lower while the Dow rose 0.1 percent.

Stocks in news:

Results Today: United Spirits, L&T Infotech, ACC, L&T Technology Services, ICICI Securities, Vijaya Bank, Tejas network, V-Mart Retail, Welspun Corp, Saregama India, Delta Corp, Balaji Amines, Granules India, Greenlam Industries, Hindustan Oil Exploration, Hindustan Zinc, Indianbulls Ventures, Lakshmi Machine Works, Linde India, Alicon Castalloy, Rane Engine Valve

Wipro: Q1 It services rupee revenue rises 2.1 percent at Rs 13,700 crore versus Rs 13,412 crore; EBIT gains 24 percent at Rs 2,397 crore versus Rs 1,932.3 crore; EBIT margin expands to 17.5 percent versus 14.4 percent; Dollar revenue down 1.7 percent at $2,026.5 million versus $2,062 million (QoQ).

UPL: Company signs definitive pact with Arysta Lifescience in a $4.2 billion all cash deal; deal is expected to be completed in late Q3 FY19 or early Q4 FY19.

HDFC Bank Q1 net profit at Rs 4,601 crore and NII at Rs 10,813.6 crore

Technical Recommendations:

We spoke to Chartviewindia.in and here’s what they have to recommend:

ACC: Buy| LTP: Rs 1,292.40| Target: Rs 1,397| Stop Loss: Rs 1250| Return 8%

Cholamandalam Finance: Buy| LTP: Rs 1519| Target: Rs 1595| Stop Loss: Rs 1467| Return 5%

State Bank of India: Buy| LTP: Rs 260.95| Target: Rs 281| Stop Loss: Rs 254| Return 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.
First Published on Jul 23, 2018 08:43 am
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