Indian markets are likely to take a breather after putting in a good show on Wednesday. Expect the benchmark index or the Sensex to trade in a band of 50- 100 points for the day. However, there could be a flurry of activity in the Midcap and Smallcap stocks
Metal stocks were prime beneficiaries of the rally yesterday which helped the sectoral index gain more than 4 percent yesterday. Realty was another sector that was bid up in yesterday's rise. we recommend exiting metal counters as we might see profit booking coming in the metals space. Sterlite Ind, Hindalco and Tata Steel might see some selling today.
The party in the Midcap space continued Shree Asthavinayak, KPR Mill, Infinite Computer, Glory Poly and Inox Leisure were some of the major gainers in this space. Reliance Natural is another stock that is looking interesting as there was great volume action in the counter on a 7 percent gain.Rajesh Exports and Astra Micro were two other stocks that looked strong in yesterday's trade