Nifty likely to open lower; 2 stocks which could give 9-11% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 59 points or 0.51 percent. Nifty futures were trading around 11,411-level on the Singaporean Exchange.

The Nifty50 is likely to open lower on Monday following muted trend seen in other Asian markets. The index closed 64 points lower at 11,456 on Friday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 59 points or 0.51 percent. Nifty futures were trading around 11,411-level on the Singaporean Exchange.

Wall Street stocks sold off sharply on Friday, with all three major US stock indexes posting their biggest one-day percentage declines since Jan. 3, as weak factory data from the United States and Europe led to an inversion of US Treasury yields, fuelling fears of a global economic downturn, said a Reuters report.

Investors dumped shares on Monday and fled to the safety of bonds while the Japanese yen hovered near a six-week high as risk assets fell out of favour on growing worries about an impending US recession, sending global yields plunging, it said.

Foreign investors have poured in a net amount of Rs 38,211 crore in the domestic capital markets in March so far, mainly on account of improved global liquidity.

Stocks in news:

Reliance Communications Enterprises has pledged 4.52 percent of its holding in Reliance Communications (RCom) amounting to 12.50 crore shares with IndusInd Bank Ltd, according to a regulatory filing.

Glenmark Pharma will be in focus as the pharma major got 5 observations from US FDA for Goa plant. CNBC-TV18 has accessed Form 483 issued to Glenmark Pharmaceuticals’ Goa plant. The US FDA has issued 5 observations to the plant after inspecting it between March 7-15.

Jet Airways: Additional seven aircraft grounded due to non-payment of amounts outstanding to lessors.

Technical Recommendations:

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

Jubilant FoodWorks: Buy| LTP: Rs 1430.40| Target: Rs 1565| Stop Loss: Rs 1384| Upside 9.4%

Sundram Fasteners: Buy| LTP: Rs 550.15| Target: Rs 615| Stop Loss: Rs 508| Upside 11.8%

Best services products with best technical support which will make your Financial Trading easy let us to know you more click here for the next level >>HNI Services Or in ONE MISSED CALL ON @9644405056

Please follow and like us:
20