Nifty range 5045-5125
Stocks might take a breather fro their uptrend after 3 days of solid gains, on Thursday. We might see some profit booking coming in at the current levels, but a significant correction is not expected in the near term. Expect the benchmark index or the Sensex to trade in a band of 100 points with negative bias
As expected Realty stocks hogged the limelight followed by the stocks in oil sector.Jaiprakash Associates led the gainers with a 6 percent gain, while gains in Reliance boosted the Nifty and the Oil space.
The new listing ARSS infra made a stellar debut on the bourses on Wednesday with a gain of 67 percent in the first day. The scrip closed near the highs of the day at Rs 751 against the issue price of Rs 450.Book profits at Rs 800 level in ARSS Infra. As mentioned in our pre-market review, sugar stocks made a come back with KCP Sugars, Triveni Eng and Renuka Sugars gaining between 5 to 10 percent for the day.
Nectar Life, Aqua Logistics, Karnataka Bank and IndusInd Bank are some of the midcaps that are looking technically strong looking at Wednesday's trading pattern. We see the market taking a pause today and the trade might be lacklustre except few stock specific moves in the Midcap space.