Meanwhile, inflation is expected to fall sharply from 3.03% to around 2.3%
BUY HPCL,BPCLLLLLLLL
'Green' is likely to be the favorite color for the day, as stocks in Dalal Street are likely to spike after a two day break. Bulls are expected to be in control, as investors are likely to bid up the shares of almost all the stocks across the board. There is a strong possibility of the benchmark index or the Sensex to cross the 8,500.00 level.
Crude fell in today's trade on news of higher inventories.April crude futures slid 7.4%, or $3.38 to close at $42.33 a barrel on the New York Mercantile Exchange.Watch out for banking stocks in today's trade. ICICI Bank is likely to be the front runner in today's rally after correcting more than 40 percent in the past one month. Expect the stock to rally past the Rs 300 level from the current level of Rs 262.00.
SBI is another stock to watch out at these levels (Rs 900.00). Auto is another sector to watch out for.Tata Motors and Ashok Leyland might vault, as investors are likely to bet on improving demand for vehicles.Tata Motors at Rs 136 might offer a short term trading opportunity for traders. A target of Rs 175 is likely in the short term.
Realty stocks might make a come back in the come back rally. JP Associates, DLF and Unitech are the likely gainers. For a change, ADAG group stocks like Reliance Power, Reliance Communications, RNRL and Reliance Capital might give bears a hard time, as these stocks were heavily shorted in the past few weeks.
Overall a strong pull rebound is on the cards for the markets. The rally is likely to broad based as all the sectors are likely to participate in the bull run.Happy trading day ahead.