Stocks in Mumbai might take a pause after a good run on the first trading day of the week. Expect the benchmark index or the Sensex to give up nearly 100 points or more than 0.5 percent for the day. The Nifty faces significant resistance at 5,050 in the near term and the going will be tough from here on
News that India's economy in the quarter ending in September increased at 7.9% from a year ago, fueled a strong rally in Dalal Street. The heartening fact is that the rally was broadbased. The bad news is that the data is obscure.Metals, Technology and IT stocks were in the lime light yesterday. We recommend investors to book profits in metals and Real Estate as we believe that these sectors are vulnerable to FII selling.
Midcaps continued to dominate with some stocks trying to play catch up. Stocks like Rama Newsprint and Thomas Cook, Goa Carbon and Cambridge Solutions were in demand.Ahmednagar Forgings, Amtek Auto, SEL Manufacturing, Cummins India and Mic Electronics are some of the stocks to watch out in today's trade. We strongly recommend Jubiland Organosys and Century Enka from 3 to 5 day perspective
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