Auto stocks should be the leaders for the day after Auto major Maruti and Tata Motors reported better than expected sales numbers for the month of October. Expect decent gains in these stocks. Telecom sectors might witness a small bounce after Singapore Telecommunications has reported it intentions to buy additional 1.52 per cent stake in Bharti Airtel and will pay up to Rs 3008.4 crore for the stake.
First source IPO, Bartronics and Alkali Metals are some of the stocks that were really active in Friday's trade. We like the action in First Source as the stock gained more than 10 percent on huge volumes. One could look to build positions at Rs 33- Rs 34 level from a short term perspective. Dhampur Sugars is another stock that is looking interesting at Rs112 for a quick trade.
Overall a dull day for the markets. But do not expect a run away rally from these levels. There are is some selling pressure at higher levels. Most of the activity is likely to be stock specific from here on