Stocks on Dalal Street are likely to trade flat, as investors are not convinced about the long term sustainability of the bull run. The benchmark index or the Sensex is likely to trade closer the magic 14,000 mark. Midcaps might continue to outperform and do not look tired any time soon
Realty and Healthcare stocks were in demand yesterday, while banking and power stocks took a breather.A total of 1250 scrips hit the upper circuit on the BSE and nearly 90 percent are them are not even in the BSE-500 index.We recommend investors to book profits in these stocks as the sky might be falling anytime for second and third rung counters.
Pharma major Ranbaxy spiked more than 20 percent to close at Rs 267 and another major move in this stock could be used to book profits in this stock at nearly Rs 290 level.Other major gainers include Nocil, Jaiprakash hdro and blue Bird.PSU stocks might see a good day aftre news reports that the disinvestment program is in fast track.
The markets are likely to mimic yesterday's trade with major indices in a narrow band and speculative action in speculative names.Alps Ind, Agrotech Foods, JPHydro, Man Ind, Emco Ltd and Brigade Enterprises might show some interesting moves in today's trade