Wednesday, May 13, 2009

Action to continue in Midcaps

Stock on radar- Indiabulls realstate, Power Stock

Stocks on Dalal Street might take a breather after gaining nearly 4 percent on Tuesday. we might witness some profit booking at this level as 12,250.00 level on the Sensex has been a big hurdle to surpass.

IT led the gainers as the sectoral index jumped nearly 5 percent and it is more likely that the gains in this sector will sustain after intel's comments about improving fundamentals in the tech space. Banking and Oil remained firm. Stocks like Cairn India and other drilling stocks like Sustain might maintain their momentum as the price of crude continued to be strong at $60.

Midcap IT stocks like 3i Infotech and Polaris have shown great momentum on huge volumes and are likely to be active in today's trade.It is not a bad idea to look at some media stocks like TV18, Balaji Tele and Sun TV as they look attractive for a short term trade. Traders should keep a close on eye on stocks like Bajaj Hindustan, Geojit Securities and GTL Infra for some intra-day action.