Stocks in India might trade flat with a positive bias in morning session, after two days of big gains for the benchmark indices. Expect the Sensex to gain 0.5 percent or so for some time. Midcaps and Metal stocks might lead the gainers list.
Auto stocks took the center stage yesterday led by Tata Motors which gained more than 12 percent to end the day at Rs 797. Metal stocks were helped by handy gains in Hindalco and Tata Steel. The trend is likely to continue in Metals, while high beta stocks like Realty stocks might make a come back today.
Jet airways is one stock that looked explosive after a long time. The stock gained 15 percent on decent volumes. Further gains in this stock is not ruled out in the near term. Core Projects, Jain Irrigation and TVS Motors are other stocks that look technically posied for futher gains. Sugar is one sector that looks attractive to accumulate at current levels. We believe there is limited downside for these stocks from the current level and slowly accumulate these stocks, especially renula Sugar and Balrampur Chini for some good returns in the medium term.