Tuesday, February 9, 2010

Nifty above 4780 is buying otherwise sell on rise

Stocks on Dalal Street might might open flat to negative on the back of negative cues from the global markets. We expect the benchmark index or the Sensex to lose nearly one percent or 150 points. Some select Midcaps, have moved against trend yesterday as the interest in this space remains strong

Asian stocks are off to a weak start after a fall in U.S stocks. Australia's ASX 200 is down more than one percent led by commodity stocks, which were hit badly by the strength in dollar.Japan's benchmark Nikkei lost more than 0.5 percent in the first hour of trade.

Telecom operators like Bharti Airtel and Reliance Communications were strong on a weak market yesterday. We expect some selling coming in to these stocks today. Metals and Realty might resume their fall after a day in green yesterday.

We advice investors to stay away from the markets and wait for a better entry point as there is further room for fall. we strongly recommend to sell Midcaps in your portfolio and try to accumulate select Sensex stocks. Tulsyan NEC, Kinetic Motors, Jindal Photo and Chambal Fertilizers were some of the stocks that were active in the Midcap space.