Nifty likely to see a gap-up opening; 3 stocks which could give 5-9% return

Trends on SGX Nifty indicate a robust opening for the broader index in India, a rise of 100 points or 0.94 percent. Nifty futures were trading around 10,815-level on the Singaporean Exchange.

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The Nifty50 is expected to open with a gap on the higher side on Thursday following positive trend seen in other Asian markets. The index closed 43 points higher at 10,728 on Wednesday.

Trends on SGX Nifty indicate a robust opening for the broader index in India, a rise of 100 points or 0.94 percent. Nifty futures were trading around 10,815-level on the Singaporean Exchange.

Federal Reserve Chair Jerome Powell boosted US stock markets on Wednesday when he said the policy rate is now “just below” estimates of a level that neither brakes nor boosts a healthy economy, comments that many took as signalling the Fed’s three-year tightening cycle is drawing to a close, said a Reuters report.

Asian stocks rose on Thursday tracking a Wall Street rally as dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards riskier assets, it said.

The rupee strengthened by 17 paise to close at 70.62 against the US currency on November 28 as global crude oil prices slipped below the $60 per barrel mark amid a smart recovery in domestic equity markets.

Stocks in news:

Tata Consultancy Services on November 28 bought BridgePoint Group LLC, a US management consulting firm catering to the financial services industry, and specializing in retirement services.

Yes Bank which fell by 11% on Wednesday clarified that it has no business dealings with the two Rana Kapoor-promoted investment firms that have come under regulatory and investor lens.

Piramal Enterprises on Wednesday said it plans to raise up to Rs500 crore through issue of secured non-convertible debentures (NCDs) on private placement basis.

Technical Recommendations:

Mphasis: Buy| CMP: Rs.955.50 | Target Rs 1044| Stop Loss: Rs.914| Return 9%

HDFC Bank: Sell| CMP: Rs 2089.25 | Target: Rs 1980 | Stop Loss: Rs.2141| Return 5.20%

Zee Entertainment Ltd: Buy| CMP: Rs. 477.45| Target: Rs 521| Stop Loss: Rs.458| Return 9%

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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