Moneycontrol
Last Updated : Jun 05, 2018 08:48 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to retest 10,600; 3 stocks which could give 6-9% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 20.5 points or 0.19 percent. Nifty futures were trading around 10,593-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open lower on Tuesday following muted trend seen in other Asian markets. The index closed 67 points lower at 10,628 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 20.5 points or 0.19 percent. Nifty futures were trading around 10,593-level on the Singaporean Exchange.

Wall Street’s three major indexes rose on Monday, led by a rally in tech stocks, pushing the Nasdaq to a record closing high as investors bet on a continuation of strong economic growth, while falling oil prices weighed on the energy sector, said a Reuters report.

Asian stocks dipped on Tuesday as the markets took a breather after the previous day’s rally, although tech-inspired Wall Street gains helped limit the losses, with investor focus moving away from trade concerns and back to benign economic fundamentals, it said.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.1 percent after surging 1.4 percent the previous day. Japan's Nikkei gained 0.2 percent and South Korea's KOSPI lost 0.3 percent.

Stocks in news:

Biocon & Mylan receive USFDA nod for biosimilar Pegfilgrastim

A penalty of Rs 7 crore has been imposed on SBI under FEMA 1999

Bajaj Corp: The company participated in an analysts' call on June 4

Weizmann Forex approves buyback of 4,36,467 equity shares at a price of Rs 702

Mahindra Holidays: IDBI Mutual Fund and Motilal Oswal will meet the company's management on June 5 and June 6

Sunteck Realty approves proposal to raise RFPIs limit from 24% to 49%

Indian Hotels: Multiple investors will meet the company's management in an investors' conference on June 5.

EClerx: Emkay, JM Financial, and Matthews International Capital will meet the firm between June 5 and June 19

Technical Recommendations:

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

Aurobindo Pharma Ltd: Sell| Target: Rs 485 | Stop-loss: Rs 570 | Return 9%

Muthoot Finance: Sell| Target Rs 350 | Stop-loss Rs 395 | Return 6.5%

Chola Finance: Buy| Target Rs 1,700 | Stop-loss Rs 1,490 | 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 Jun 5, 2018 08:41 am
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