(10-12-2009 14:00:46): Nifty btst..Book in good profit
Stocks on Dalal Street are likely to move up on the last trading day of the week on the back of positive global cues. Expect the benchmark index or the Sensex to gain more 100 points or nearly 0.8 percent for the day inrespect to IIP numbers are good. Midcaps are likely continue their domination and finish off the week on stronger note
The rest of the world is off to a stronger start as dollar continued to fall. Australia is up nearly a percent on opening bell and the Korea's Kospi opened up in green after gaining more than a percent yesterday. Consumer Goods and Banking stocks remained strong yesterday and might stay flat today. We like Fertilizer stocks in the short term as we think that that this sector has not participated in the rally. Chambal Fert, Nagarjuna Fert and Meghmani Organics are some of our picks in this space. Thomas cook is another stock that might spurt as listing of Cox & Kings might help the tourism space.
Midcaps continued their bull run and our recommendation Mic Electronics surged more than 19 percent ending the day at Rs 47.40. Smallcap stocks outperformed the rest of the indices by a wide margin for the fourth day in a row. Midcap stocks like ICSA, Zenith Computers and Asian electronics look strong and might build on their gains from Thrusday.
Overall, another positive day for the stocks in the offing as things look rosy and the euphoria might extend for few more days. To keep it simple, investors should wait on the sidelines, while traders could try their luck by placing bets on speculative midcap and smallcap stocks