Dalal Street is likely to open lower after a decoupling itself from the global markets for a day. Expect the benchmark index to give up more than 150 points or one percent for the day. The Midcap story might continue in select counters but the number of gainers might be limited
As expected Realty stocks bounced back on Tuesday and are likley to give up their gains in today's trade. Metals space might see significant correction as the the dollar continues to weaken. We strongly recommend selling most your portfolio if you are a short ter to medium term investor. We recommend a 'Sell' on Tata Steel and Tata Motors as we are of the opinion that these stocks are over valued at current levels.
Trim your portfolios and stay on the sidelines with cash. We are likely to get a better entry point than the current levels. Banking is another space that might see some correction as the stocks in this space have had a decent rally in the past few weeks.even Healthcare space which is considered as a safe haven for defensive investors is looking expensive with Ranbaxy and Cipla trading near their highest level in more than a year. This might be a good time to take a vacation and re-visit the market in the new year