Nifty likely to open flat; 3 stocks which could give 8-11% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 36.5 points or 0.34 percent. Nifty futures were trading around 10,867-level on the Singaporean Exchange.

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The Nifty50 is likely to open flat with a positive bias on Monday tracking mixed trend seen in other Asian markets. The index closed 13 points higher at 10,805 on Friday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 36.5 points or 0.34 percent. Nifty futures were trading around 10,867-level on the Singaporean Exchange.

Wall Street’s three major indexes tumbled on Friday and the Dow confirmed a correction as weak data from China and Europe stoked fears of a global economic slowdown.

Asian share markets started the week on a cautious footing on Monday after weak economic data from China and Europe added to evidence of cooling global growth and reinforced anxiety over the impact of international trade frictions on business and profits.

The rupee declined by 22 paise to close at 71.90 against the US dollar amid strengthening of the greenback and cautious trading in the domestic equity market on December 14.

Stocks in news:

Wipro: The company announced strategic partnership with Saxo Bank.

Infosys: The company signed an agreement to divest its shares in CloudEndure Limited for a total consideration of approximately $15.3 million.

Jet Airways: SBI orders forensic audit of Jet’s books for period between April 2014 and March 2018. In another development, a source told PTI, that Nikos Kardassis who was in an advisory role at the airline has quit, accroding to a report.

Teva Pharma gets US FDA nod for Herzuma, biosimilar to Herceptin, for treatment of HER2 – CNBC-TV18.

Cadila Healthcare: Zydus gets US FDA nod for Albendazole tablets & Pregabalin capsules.

Technical Recommendations:

Dabur: Buy around 435-430| Target: Rs 480| Stop Loss: Rs 410| Return 8.6%

Indian Bank: Buy around 240| Target: Rs 265| Stop Loss: Rs 228| Return 10%

Ashok Leyland: Sell around 104-105| Target: Rs 96/92| Stop Loss: Rs 109| Return 11%

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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