Nifty likely to open higher; 3 stocks which could give 8-18% return

share market tips

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 17.5 points or 0.15 percent. Nifty futures were trading around 11,669-level on the Singaporean Exchange.

The Nifty50 is likely to open higher on Thursday following positive trend seen in other Asian markets. The index closed 87 points lower at 11,584 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 17.5 points or 0.15 percent. Nifty futures were trading around 11,669-level on the Singaporean Exchange.

Technology stocks led Wall Street slightly higher on Wednesday, as US inflation data proved to be benign and the minutes from the Federal Reserve’s March meeting were unsurprising, said a Reuters report.

Asian stocks held near eight-month highs on Thursday and the dollar slipped again on expectations global interest rates will stay lower for longer after a dovish turn by the European Central Bank and milder than expected US inflation, it said.

Rising for the second straight session, the rupee advanced 19 paise Wednesday to close at 69.11 against the US dollar on strong foreign fund inflows amid the greenback’s weakness against key rivals overseas.

Stocks in news:

Pharma major Wockhardt on Wednesday said it has received approval from the US health regulator for its 50 mg injection of Decitabine which is used to treat certain forms of cancer.

The country’s largest private sector steel-maker JSW Steel on Wednesday raised $500 million through an international bond issue.

Tata Motors on Wednesday reported 5 percent decline in global sales, including that of Jaguar Land Rover (JLR) vehicles, at 1,45,459 units in March.

Technical Recommendations:

We spoke to YES Securities and here’s what they have to recommend:

SBI Life Insurance Company Ltd: Buy| LTP: 619| Target: Rs 690| Stop Loss: Rs 590| Upside 11%

Hindustan Unilever Ltd: Buy| LTP: Rs 1678| Target: Rs 1820| Stop Loss: Rs 1620| Upside 8%

Jet Airways (India) Ltd: Buy| LTP: Rs 267| Target: Rs 315| Stop Loss: Rs 238| Upside 18%

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