The Indian markets are headed for a higher open on Monday following a rally on Wall Street towards the end of the week. The benchmark index or the Sensex is likley to gain nearly one percent or 150 points of the day. The 'Midcap' theme might continue this week as there is minimal fund interest in the index stocks
We have witnessed lot of interest in Auto stocks which boosted the stock prices of M&M and Hero Honda, which remained the top gainers in the index. Metals sector might be in focus after Steel maker ArcelorMittal acquired in Uttam Galva Steels Ltd at Rs 120/ share. This news is likely to help the share prices of other manufacturers in this space. Watch out for Ispat Ind, Sunflag Iron and SAIL gain as there might be a rub off on other steel scrips, following the deal.
Watch out for stocks like Cambridge Technologies and Infotech Enterprises, as there is some speculative activities in these counters.
IFCI is another stock which is looking interesting on the charts after a good move on Friday with huge volumes. The stock gained more than 11 percent and is hovering at Rs 58 level. Expect a move to RS 75 after some consolidation at these levels.
Agri Commodity stocks are back in focus as stocks like LT Overseas, Lakshmi Energy and KRBL are on the radar of traders who are betting on increase in food prices.Day traders could keep a close eye on stocks like ITI Ltd, Mcnally Bharat and HCL Infosystems for smart gains. Overall, a good day for the bulls as stocks are likely to start on a solid footing on Monday morning