Nifty levels send by sms trade in fixes zone
Stocks on D-Street are likely to consolidate after a decent rally in the past 5 sessions. Expect the benchmark index or the Sensex to hover around the 17,000 mark for some time before making a decisive move. The global cues have been neutral and we at IndiaBears.com are of the opinion that this has set perfect platform for the Midcaps to shine in the next two trading sessions
Realty took a breather and was the only sector in red yesterday as investors booked profits in this sector after gains of over 5 percent in the last week.Auto and Banking stocks stole the show, led by Mahindra and Hero Honda, which gained 4 and 3 percent respectively. Banking was another space that looked explosive yesterday. Cement stock played catch up with ACC Ltd and Ambuja Cement garnering handy gains.
The market lacks triggers and there is no news on both sides to move the market. Midcaps is the space short term traders should look to. We might see some fireworks from this space today.Third rung stocks like Raj Television, Ajmera Realty and Global Vectra were among the high fliers. Mahindra Forgings continued to rise after M&M increased stake in the company at Rs 135 level.
We like Shipping stocks and investor should look at GE Shipping while it is worth taking an intra day position in Mercator Lines RS 60.75 might give a pleasant surprise to the upside. Mercator is my pick for the day today.Stay away from third rung counters and take some short term position sin quality Midcaps.
8 Shorts calls for Viewers
1. SHORT VOLTAS CMP 169 SL 173 TGT 165 / 162
2. SHORT UNION BANK CMP 270 / SL 275 / TGT 266 / 264
3. SHORT UCO BANK CMP 60 / SL 61.20 / TGT 59 / 58 /57
4. SHORT TITAN CMP 1810 / SL 1834 / TGT 1790 / 1780 /1770
5. SHORT PTC CMP 115 / 117 / 113 / 111
6. SHORT IDBI CMP 123.50 / SL 126 / TGT 120.20 / 118
7. SHORT BHEL CMP 2431 / SL 2451 / TGT 2411 / 2404 / 2394
8. SHORT CROMPTON GREVES CMP 443 / SL 448 / TGT 439 / 437