Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 5-11% return

The Nifty50 is likely to open flat on Monday following muted trend seen in other Asian markets. The index closed 111 points higher at 11,278 on Friday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 10 points or 0.09 percent. Nifty futures were trading around 11,327- level on the Singaporean Exchange.

Wall Street's major indexes fell on Friday as weak earnings reports from major technology companies led to a big drop for the sector, said a Reuters report.

Asian share markets drifted lower on Monday while currencies kept to familiar ranges ahead of a busy week peppered with central bank meetings, corporate results and updates on US inflation and payrolls, it said.

Technology and energy shares led Japan's Nikkei down 0.4 percent in early trade, while tech also featured in South Korea's 0.2 percent decline. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.03 percent.

As many as 103 companies will declare their results later today which include names like Aban Offshore, Axis Bank, Central Bank of India, Avenue Supermarts, Escorts, Gujarat Gas, Idea Cellular, IDFC Ltd, Shree Cements, and Tech Mahindra among others.

Stocks to watch:

TCNS Clothing to make stock market debut today

ICICI Bank: Q1 net loss at Rs 119.5 crore versus profit of Rs 2,049 crore; NII rises 9.2 percent at Rs 6,102 crore versus Rs 5,590 crore (YoY).

RIL in discussion to acquire 5% stake in VAKT Holdings Limited (VHL) - UK

Bank of Baroda: Q1 profit jumps sharply to Rs 528.3 crore versus Rs 203.4 crore; NII rises 28.7 percent to Rs 4,381 crore versus Rs 3,405 crore (YoY).

Indian Overseas Bank: Q1 net loss widens to Rs 919 crore versus loss of Rs 499 crore; NII increases 18 percent to Rs 1,208.1 crore versus Rs 1,024.6 crore (YoY).

HCL Technologies: Q1 profit rises 7.9 percent to Rs 2,403 crore versus Rs 2,227 crore; revenue increases 5.3 percent to Rs 13,878 crore versus Rs 13,179 crore; dollar revenue rises 0.8 percent to $2,055 millio versus $2,038 million (QoQ).

Technical Recommendations:

We spoke to 5nance.com and here’s what they have to recommend:

Phillips Carbon Black Ltd: Buy| LTP: Rs 234.85| Target: Rs 260 | Stop-loss: Rs. 220 | Return: 11%

Biocon Ltd: Buy | LTP: Rs 586| Target: Rs. 620 | Stop-loss: Rs. 553 | Return: 6%

Cholamandalam Investment & Finance Co. Ltd: Sell | LTP: Rs 1463| Target: Rs. 1,395 | Stop-loss: Rs. 1,542 | Downside: 5%

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