Market Headstart: Nifty likely to open higher; 3 stocks which could give 8-9% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 42 points or 0.39 percent. Nifty futures were trading around 10,865-level on the Singaporean Exchange.

The Nifty50 is likely to open higher on Wednesday following positive trend seen in other Asian markets. The index closed 44 points lower at 10,835 on Tuesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 42 points or 0.39 percent. Nifty futures were trading around 10,865-level on the Singaporean Exchange.

Wall Street’s three major indexes fell slightly after a choppy session on Tuesday as investors eyed mixed US economic data and corporate news and waited for clarity on issues such as the US-China trade talks, said a Reuters report.

Asian shares edged higher on Wednesday and the dollar fell to a three-week low after Federal Reserve Chairman Jerome Powell reinforced the US central bank’s recent shift toward a more “patient” approach on policy in the face of a slowing economy, it said.

Fiscal deficit touched 121.5 percent of the full-year revised target of Rs 6.34 lakh crore at the end of January on account of lower revenue collections, government data showed on Tuesday.

Stocks in news:

Drug firm Lupin on February 26 said it has launched in the US Minocycline Hydrochloride extended-release tablets, used for the treatment of inflammatory lesions of acne.

Tata Steel on Tuesday said its board has approved plans to raise Rs 4,000 crore through issuance of non-convertible debentures on a private placement basis.

Luxury hospitality chain Hotel Leelaventure on February 26 said that its debt owner JM Financial Asset Reconstruction Company (JMFARC) has filed an application with the National Company Law Tribunal (NCLT) against it.

Technical Recommendations:

Tata Consultancy Services Limited: Buy| LTP: Rs 2032| Target: Rs 2200| Stop Loss: Rs 1920| Upside 8%

Bajaj Finserv Limited: Buy| LTP: Rs 6427| Target: Rs 7000| Stop Loss: Rs 6050| Upside 9%

REC Limited: Buy| LTP: Rs 134.30| Target: Rs 146| Stop Loss: Rs 124| Upside 9%

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