Nifty likely to open higher; 3 stocks which could give 3-6% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 44.5 points, or 0.41%. Nifty futures were trading around 10,813-level on the Singaporean Exchange.

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The Nifty50 is likely to open higher on Tuesday following a mixed trend seen in a other Asian markets. The index closed 57 points lower at 10,737 on Monday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 44.5 points or 0.41 percent. Nifty futures were trading around 10,813-level on the Singaporean Exchange.

US stocks declined on Monday as an unexpected drop in China’s exports reignited worries of a global economic slowdown and prompted caution among investors as the corporate earnings season kicked off, said a Reuters report.

Asian shares were on back foot on Tuesday as an unexpected drop in China’s exports heightened worries about the global economy while the British pound braced for a showdown in parliament over the government’s Brexit plan, it said.

On earnings front, around 18 companies will be declaring their results for the December quarter. Den Networks, Jay Bharat Maruti, Network18 Media, and Speciality Restaurants, among others will be declaring December quarter results.

Stocks in news:

The Reserve Bank of India (RBI) Monday said it has imposed a penalty of Rs 1 crore on Bajaj Finance Ltd, a non-banking financial company (NBFC), for violating “fair practices code”.

ICICI Securities, investment services arm of ICICI Group, on Monday reported a 34.3 per cent decline in consolidated profit to Rs 101.1 crore for the third quarter ended December 31.

IT firm Cyient on Monday said its board will discuss a proposal for a maiden buyback offer at its meeting on January 17.

Technical Recommendations:

Axis Bank | Buy | Target: 680 | Stop-loss: 640 | Return 3.8 %

Pidilite Industries | Buy | Target: Rs 1,200 | Stop-loss: 1090 | Return 6.2 %

Godrej Industries | Sell January Futures | Target: Rs 500 |Stop-loss: 545 |Return 6.4 %

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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