Markets@Moneycontrol: Nifty likely to open higher; 3 stocks which can give up to 7% return

The Dow Jones Industrial Average rose 336.7 points, or 1.37 percent, to 24,874.76, the S&P 500 gained 29.69 points, or 1.10 percent, to 2,720.94 and the Nasdaq Composite added 72.84 points, or 1 percent, to 7,330.71.

On the options front, maximum Put open interest is placed at 10400 followed by 10000 strikes while maximum Call open interest is at 10700 and 10500 strikes.

Meaningful Call writing was seen at 10400 followed by 10700 strikes which are restricting its upside while Put unwinding was seen at immediate strikes which is giving the scope for further declines.

Stocks in news:

HDFC approves the issue of 1.03cr shares at price of Rs 1825 in QIP

Sanghi Industries’ meeting on March 7 to approve the issue of non-convertible debentures

JP Associates - IndusInd Bank has transferred 6 crore shares of Jaypee Infratech held by the company which stood pledged in their favour

JSW Energy acquires JSW Electric Vehicles Pvt Ltd

Bharat Wire Ropes’ meeting on March 9 to raise funds via issue of securities through FPO, QIP, private placement, rights issue and other permissible mode

Arbitration court bars RCom from selling assets

Reliance Infra claims Rs 5,440 cr from Pipavav Def Founders

RBI Slaps Rs 3 crore penalty on Axis Bank

RBI fines IOB for violation of norms for Rs 20 Millions

RBI to infuse Rs 1 trn via special auctions

For more stocks in news click

Technical Recommendations:

Here’s what HDFC Securities recommends:

Tech Mahindra Ltd: BUY| Target Rs. 675 | Stop-loss Rs 600 | Return 7%

Chambal Fertilisers: BUY| Target Rs. 177 | Stop-loss Rs 155 | Return 7%

Hindalco: SELL| Target Rs. 215 | Stop-loss Rs 238 | Return 6%