Indian stocks are likely to extend the four day rally on Tuesday on positive global cues and overnight gains in the US market. Wall Street stocks posted strong gains of roughly 1% during 2011's first trading session as promising manufacturing and construction data bolstered confidence in the U.S. economy's recovery prospects. Stocks are expected to rally in January, potentially marking 2011 as the year investors returned in number to the equities market.
Asian Markets are trading in the green on Tuesday.
News Bytes
* Nalanda Capital hikes Voltamp stake to 8%
* Lupin settles litigation over Lunesta with Japanese firm
* Patni-iGate deal hit by procedural delays
* Exports rise 26.5% in Nov, may exceed $200-bn target
* Rubber output up in Dec; consumption drops 1.3%
* ACC, Ambuja despatches rise in December
* KEC International strengthens order book to Rs7,500-8,000 crore
* Reliance Cap’s unit buys 26% stake in ICEX from Indiabulls
Railway Stocks might cut loose
Its time for the Railway budget stocks to spike up. Kalindee Rail, Titagarh Wagons, Texmaco and Kernex are the ideal bets in this space. Realty and Infra started showing momentum and might inch up today also. Second rung IT looks promising while Banks and Autos will be pushed to the back burner.
We had a decent start to the F&O segment while our latest swing trade call is on the move with gains of 8 pct till date.