Stocks on Dalal Street might trade in a range of 100 points on the Sensex for the third day in a row. Bulls are not likely to give up as the undertone remains bullish with enormous liquidity in the markets. There might be action in select story based Midcap counters
Oil and consumer Durables stocks were active among the largecap stocks. ONGC and Reliance Communications were among the top gainers for the day.Investment Bank JP Morgan has come out with a research note saying that Indian stocks may rise a further 17 percent by the end of the year helped by better than expected earnings estimates.
The bullishness has spread from Midcaps to Smallcaps now. The benchmark index tracking the prices of Smallcap stocks has gained 1.2 percent on Thrusday against a 0.8 percent gain in the Midcaps.United Phosphorus Ent, Surya Roshni, R.S. Software and Navneet Publications were among the notabel gainers in this space.Traders could also take positions in Balaji Tele, Shriram Transport, Infotech Enterprises and Sterlite Technologies for short term gains
10 India Stocks for 2010
Indraprastha Gas Limited
Industrial Gases & Fuels [CMP Rs 200, TTM P/E: 15.3x]
Mahindra & Mahindra
Automobiles - Tractors [CMP Rs 1150, TTM P/E: 18.3x]
Aurobindo Pharma
Pharmaceutical & Drugs [CMP Rs 916, TTM P/E: 12.7x]
Sterlite Industries Ltd
Metals- Non Ferrous [CMP Rs 915, TTM P/E: 20.2x]
Deepak Fertilizers
Fertilizers [CMP Rs 117, TTM P/E: 7.7x]
HDIL
Construction – Real Estate [CMP Rs 366, TTM P/E: 22.7x]
IndusInd Bank
Bank - Private [CMP Rs 146, TTM P/E: 23x]
Kalpataru Power
Power Generation/Distribution [CMP Rs 1133, TTM P/E: 23.2x]
Crompton Greaves Ltd
Electric Equipment [CMP Rs 436, TTM P/E: 23.9x]
GAIL
Gas Transmission / Marketing [CMP Rs 415, TTM P/E: 18.9x]