Market Headstart: Nifty likely to open flat; United Spirits, Siemens top buys.

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Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 41 points gain or 0.37 percent. Nifty futures were trading around 11,012-level on the Singaporean Exchange.





The Nifty50 is expected to open flat on Wednesday following positive trend seen in other Asian markets as hopes of diminishing U.S.-China tensions and reduced risk of no-deal Brexit lifted sentiment.
On Wall Street, the S&P 500 ended little changed as a rally in energy and industrial shares countered a drop in the technology and real-estate sectors with investors favoring value over growth, said a Reuters report.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 41 points gain or 0.37 percent. Nifty futures were trading around 11,012-level on the Singaporean Exchange.
If we compare it with Monday’s closing of SGX Nifty which was at 11,037, it shows a small downtick of 19 points. Indian market remains shut on Tuesday on account of a public holiday.
The rupee pared initial gains to settle almost flat at 71.71 against the US dollar on Monday as rising crude oil prices kept investors edgy.
On the institutional front, FPIs were net sellers in Indian markets for Rs 188 cr while the DIIs were net buyers to the tune of Rs 686 cr, provisional data showed.
Reliance Capital will sell up to 1.93 crore shares, representing 3.15 percent equity, in Reliance Nippon Life Asset Management (RNAM) for over Rs 505 crore on stock exchanges through ‘Offer for Sale’ route on Wednesday and Thursday.
 Union Bank of India on Monday said its board of directors has approved a merger of Andhra Bank and Corporation Bank with itself and given nod for a capital infusion of Rs 17,200 crore in the current financial year.
US-based private equity firm Advent International Corporation has entered into a pact with the promoters of DFM Foods, to acquire 67.9 percent stake in the Delhi-based firm for around Rs 851.6 crore in an all-cash deal.
ZEE Entertainment: Mutual funds (MFs) and non-banking financial companies have received a part of their dues from Essel Group.
Technical Recommendations:
We spoke to HDFC Securities and here’s what they have to recommend:
Rallis India: Buy| LTP: Rs 166.5| Target: Rs 185| Stop-Loss: Rs 155| Upside 11%
United Spirits: Buy| LTP: Rs 617| Target: Rs 675| Stop-Loss: Rs 588|Upside 9%United Spirits: Buy| LTP: Rs 617| Target: Rs 675| Stop-Loss: Rs 588|Upside 9%
 Siemens:Buy| LTP: Rs 1,219| Target: Rs 1,300 | Stop-Loss: Rs 1,170| Upside 7%.
source by: moneycontrol
Professional Advisory  For Help And Support- AllianceResearch




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