Nifty likely to open flat; 3 stocks which could give 6-7% returns

Trends on SGX Nifty indicate a flat opening for the broader index in India. Nifty futures were trading around 11,365-level on the Singaporean Exchange.

The Nifty50 is expected to open flat on Tuesday following mixed trend seen ina other Asian markets. The index closed 102 points lower at 11,354 on Monday.

Trends on SGX Nifty indicate a flat opening for the broader index in India. Nifty futures were trading around 11,365-level on the Singaporean Exchange.

The S&P 500 Index ended a choppy session slightly lower on Monday as worries about a slowdown in global economic growth lingered and as Apple Inc shares fell after the company unveiled its video streaming service, said a Reuters reported.

Asian shares were shaky on Tuesday after US Treasury yields sank to their lowest since late 2017, further below short-term interest rates and adding to fears of a US recession, it said.

The rupee ended almost flat at 68.96 per US dollar on Monday as participants preferred to wait on the sidelines to see the outcome of RBI’s first-ever rupee-dollar swap auction.

Stocks in news:

Engineering firm KPTL on Monday said its arm Kalpataru Power Transmission Sweden AB has signed an agreement to acquire 85 percent equity stake in Linjemontage i Grastorp AB for $24 million.

Realty major DLF on Monday launched its QIP offer to raise over Rs 3,000 crore by selling 17.3 crore equity shares to qualified institutional investors.

Jet Airways will start taking back its grounded fleet from later this week, and ‘normalcy’ may be restored within two months. The follows the resignation of founder Naresh Goyal and wife Anita from the company’s board, and infusion of Rs 1,500 crore by its lenders.

Technical Recommendations:

We spoke to Religare Broking and here’s what they have to recommend:

State Bank of India: Sell Apr Futures| Target: Rs 280| Stop-Loss: Rs 308| Downside 6%

V-Guard Industries Limited: Buy| Target: Rs 228| Stop-Loss: Rs 204| Upside 7%

Aurobindo Pharma Limited: Buy| Target: Rs 830| Stop-Loss: Rs 740| Upside 7.1%

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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