Last Updated : Jan 24, 2018 08:47 AM IST | Source:

Markets@Moneycontrol: Nifty likely to start flat; 3 stocks which could give up to 20% return

The Nifty50 is likely to open on a muted note but the momentum still remains strong. Investors can use the dip to buy into quality stocks.

The Nifty50 is likely to open on a muted note but the momentum still remains strong. Investors can use the dip to buy into quality stocks.

US stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P and Nasdaq Composite. Asian markets were trading mixed. The Nikkei 225 slipped 0.42 percent after the index hit a fresh 26-year high on Tuesday while the benchmark Kospi index rose 0.37 percent.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27.5 points or 0.25 percent. Nifty futures were trading around 11,060.5-level on the Singaporean Exchange.

The index is now trading away from all the key short-term moving averages which is making technical analysts little nervous at higher levels. However, traders are advised to stay long on the index as long as it is trading above 10,888 which is a crucial support for the index.

Investors who are already long on the index could keep a stop below 10,975 levels. The next visible target for the index stands at 11,500 levels.

The index which opened at 10,997.40 rose to a record high of 11,092.90. It slipped marginally to 10,994.55 before closing 117.50 points higher at 11083.70, a fresh record closing high.

Stocks in News:

Manappuram Fin: Authorises MD & CEO to begin further discussions on investment opportunities

Indiabulls Housing Finance Q3 net rises 55% to Rs 1,167 cr

Force Motors Q3 net up 37 pc at Rs 14.65 cr

EClerx to buyback shares worth Rs 258cr at Rs 2000; Record date Feb 5, 2018

Alembic to buyback 1 crore shares at a price of Rs 80

Savita Oil Technologies to buyback 2.8 lakh shares at Rs 1,605 per share

Sanghi Induatries closes QIP at an issue price of Rs 129

Majesco to raise funds via QIP at a floor price of Rs 532/ share

Shriram EPC bags order worth Rs 84 crore

66 companies scheduled to report results later today:

As many as 66 companies on the BSE are scheduled to report results for the quarter ended December which include names like Biocon, Canara Bank, Capital First, Indiabulls Ventures Ltd, Idea Cellular, Pfizer, InterGlobe Aviation, TTK Prestige etc. among others.

Idea Cellular is likely to report a loss of Rs1106 cr on QoQ| Revenues down 9%

InterGlobe Aviation is likely to report 33% growth in net profit

Biocon likely to report 48% YoY fall in net profit Rs87.8 crore

Stock Recommendations from SMC Capital:

Automotive Axles is a BUY call with a target of Rs1980| Stop Loss 1575| Return 15%

Sasken Technologies: BUY| Target Rs895| Stop Loss Rs700| Return 16%

Sterlite Technologies: BUY| Target Rs464| Stop Loss Rs340| Return 20%
First Published on Jan 24, 2018 08:38 am
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