The markets have traded in negative territory for the most of Tuesday but managed to close above the dotted line in the final hour of trade.Consumer durables, metal and auto sectors performed relatively better than rest of the sectors. Tata Steel, SAIL and Tata Motors were among the major gainers and these stocks are likely to be firm today.
We like some select stocks in today's trade.The stocks of Satyam computer is likely to steal the limelight for the second day in a row as there is some speculative build up by the operators ahead of the closure of the open offer. The stock might touch Rs 70 in the coming days and is a good bet for traders with risk appetite.
We also like the oil pack HPCL, BPCL & IOC ahead of the regualtion and believe that there is still a 20-30 percent move left in these stocks. Micap and smallcap stocks might cool off a bit, as they ae witnessing some profit booking after a massive run up.
For today's trade watch out for tea stocks like Mcleod Russel, Infra stocks like Orbit Corp, GMR Infra and last but not the least Power Finance Corporation and NALCO might join the parade. Overall, expect a positive day but not do not expect a big up move