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Stocks in India are poised open higher for the second day in a row after the indices vaulted by more than 3 percent on Tuesday.Expect the indices to gain more than 100-150 points or 1 percent for the day as the buying spree is likely to continue.
Technology stocks are expected to open firm on the back of good news from Intel. we have seen a big run up in Realty stocks with the realty index soaring by 9.5 percent for the day.Realty and banking stocks will show a sideways movement with minor gains.
We prefer select midcap speculative stocks as these stocks are likely to play catch up soon. Oil exploration stocks have seen a humungous run with Aban Offshore gaining more than 25 percent on huge volumes as some prominent bears in the market were caught offgaurd in this stock. Hind Oil explo caught the same fever vaulting by 20 percent. Stay from these counters for now.
Bulls are likely to continue their domination for the second consecutive day in a row. concentrate on IT and midcap stocks.Day traders could look at stocks like Polaris Rs 91, which is likely to score a century soon