Market Headstart | Nifty likely to open higher; 3 stocks that could give 5-7% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 48 points or 0.44 percent. Nifty futures were trading around 11,008-level on the Singaporean Exchange.

The Nifty50 is likely to open higher on Wednesday following positive trend seen in other Asian markets. The index closed 22 points higher at 10,934 on Tuesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 48 points or 0.44 percent. Nifty futures were trading around 11,008-level on the Singaporean Exchange.

US stocks rose on Tuesday as largely upbeat corporate results fueled investor optimism ahead of the highly awaited State of the Union address by President Donald Trump, said a Reuters report.

Asian shares started cautiously on Wednesday as investors waited to see if US President Donald Trump drops any hints of progress on tariffs in his State of the Union speech, it said.

On the earnings front, 132 companies will be declaring their results for the quarter ended December on Wednesday which includes prominent names like Adani Power, Balkrishna Paper Mills, Cipla, Cummins India, Graphite India, JSW Steel, Lupin, Punj Lloyd, Siemens, Venky’s India and Wheels India among others.

Stocks in news:

Tech Mahindra Q3 profit rises 13% QoQ, revenue surges 3.6%

HCL Technologies and Harris Geospatial Solutions partner to deliver advanced analytics solutions for the utility industry

Century Plyboards approved a proposal for setting-up a Particle Board and MDF Unit at Uttar Pradesh.

Majesco releases new electronic billing and payment solution built using Majesco Digital 1st Insuran

Technical Recommendations:

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

Kotak Mahindra Bank Limited: Buy| LTP: Rs 1277| Target: Rs 1360| Stop-Loss: Rs 1220| Return 6.5%

Pidilite Industries Limited: Buy| LTP: Rs 1125| Target: Rs 1190| Stop-Loss: Rs 1085| Return 5.7%

Bajaj Auto Limited: Sell Feb Futures| LTP: Rs 2711| Target: Rs 2540| Stop-Loss: 2750|Downside 6%

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