Long Nifty only above 4940
Stocks on D-Street might see another day of lacklustre trade, following a flat close on Monday. The market is looking for cues from abroad, as there no news on the domestic front. Investors look tensed ahead of the budget later this month and we have not seen bullish or bearish positions in the market. Expect the benchmark index or the Sensex to trade in a band of 100 points for the day
IT and Realty were the surprise winners in yesterday's trade. We might see some selling and profit booking in metal and Realty counters today. Stay away from metal stocks, we are bearish on this sector, as the strengthening dollar and credit tightening might trigger some unwinding in this space. Sterlite Ind, Sesa Goa, Tata Steel and Hindalco are the scrips to avoid in the short to medium term.
In the Midcap space, Investors in Thinksoft remained thought less, as the scrip was locked in lower circuit again.Inox Leisure was one stock that rocked yesterday's session, following an open offer by Reliance Media to Fame India shareholders. investors bid up the stock on the hopes that Inox will realize decent profit on the Fame India shares, it has already acquired. Our favourite Indo Tech transformers managed to stand in the top gainers list. Texmaco Ind, Bata India and Infinite Computers are some of the stocks to keep on the radar from a day trading perspective