Dalal Street is likely to open in the green on the first trading day of year 2011 on the back of positive global cues. Inflows are expected to be a major booster for the markets in the next two months. One should not be surprised if the markets run up another 10 pct in two months.
News Bytes
* iGate cancels announcement of deal with Patni
* External debt exceeds forex reserves after 7 yrs
* Tata Steel, Nippon to ink Rs 2,400-cr JV by Jan-end
* Govt explores capping FDI in pharma
* NTPC to set up 4,000 MW unit in Vizag
* China manufacturing growth slows
Get ready for the run
While technically FIIs start punching cash orders from the second week of January, we believe the rush for midcap and smallcap stocks is likely to continue this week too. With Q3 numbers round the corner, the onus is on the frontliners to deliver goods.
Kalindee, Titagarh are looking good while Coal stocks are likely to see massive interest on the back of Australian floods. Realty stocks are looking interesting too.