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Auto and Realty stocks were among the major losers on Friday, and we expect Realty bounce back int today's trade. Metal stocks look like they have some more room to grow, going forward as commodity prices remain firm.

Investors booked profits in stocks that have had a dream run. Tech Mahindra fell more than 7 percent to Rs 767. United Spirits, Suzlon Energy, IRB Infra and Brand House Retail were some of the stocks that are under sever selling pressure.

Prism Cement looks strong at RS 53 even after gaining more than 15 percent on huge volumes in a falling market. Analysts attribute the spurt in the stock price to the company's plans to consolidate the business of H. & R. Johnson Limited and RMC Readymix Private Limited with the Company.Barack Valley Cement and Sun Pharma Advance Research have seen huge volumes and look interesting at these levels.

Today might be a good day for the bulls as there is a strong chance for decent gains in equities. Traders could look at stocks like Genus Power, Punjab Chemicals, India Info line and Fortis Healthcare for some intraday moves.

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As mentioned in our pre-market review, Auto sector bore thne brunt of heavy selling as investors booked profits in stocks like Tata Motors, Hero Honda and Ashok Leyland, which came out with a bad set of numbers for the month. Realty and Metal Stocks were also under tremendous pressure as the sectoral indices gave up more than 3 percent for the day.

Textile stocks might spurt on the news that the textile industry would get Rs 2,546 crore as subsidy under the Technology Upgradation Fund Scheme within three days, this is likely to help the capital-starved industry. Arvind Mills and Alok textiles might see some demand on this news.

Some Midcaps were on fire even in a falling market. Development Credit Bank jumped more than 10 percent on heavy volume ending the day at Rs 38.60. There might some more room in the stock after a small pull back. Oil Exploration stocks were on fire, with AlphaGeo, Hindustan Oil Exploration and Selan Exploration making some handy gains. GATI Ltd, KIC Metaliks, Reliance Communications and Genus Powere are some of the stocks to watch out in today's trade

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Tech, Power and Realty stocks gave up some gains from the previous sessions, while Auto's continued to gain as Tata Motors led the gainers in this sector. Banking and Metals might resume their uptrend in today's session.

Select midcaps continued to gain inspite of a lacklustre market. IG Petro gained for the second day in a row on decent volume. The stock gained 12 percent after a 20 percent move yesterday. We see some speculative build up in this stock. Glory Poly Films, PVR Ltd and Austral Coke were other midcaps that have seen some interesting moves.

We advise investors to concentrate on Midcap stocks as we do not see much room in large cap scrips. Core Projects, Bank of Rajasthan, Pitti Laminations and Excel Infoways are some of the stocks to watch out in today's trade

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Stocks on Dalal Street are likely to extend their gains for the second day in a row after gaining more than 750 points in the past three sessions. Expect the benchmark index or the Sensex to gain more than 100 points and might breach the 16,000 mark on Tuesday.

Auto sector was a major gainer as investors bid up shares of automakers on hopes of a rebound in the economy. Realty was another bright spot after under performing on Monday.Mahindra and Mahindra gained more than 7 percent and is looking strong at R 918. We expect a correcting in Automakers like M&M and Tata Motors. So investors should look to book some profits on any up move in this sector.

We recommend selling Rolta India at the current market price after the company reported Q4 consolidated net profit was down at Rs 76 crore versus Rs 133 crore, QoQ. We are concerned about the narrowing margins and the stock is likely to correct more than 15 percent in the near term.

The Midcap space is getting heated up now with stocks like Fedders Lloyd, IG Petro, Empee Distilleries and TIPS Ind hitting circuit filters. We advise caution to investors in this space and one should take stock in quality companies.

The stock of Wire and Wireless might spurt after the rights announcement and one could expect a target of Rs 22 in the short run.Kemrock Ind, Hanung Toys and Gati Ltd are some of the stocks to watch closely in Tuesday's trade

Select Midcaps likely to be active

FMCG, Oil & Gas and banking stocks were active on Friday and we expect Realty and Metal stocks to dominated today's trade. The market might consolidate at current levels after a decent gains last week. We remain bullish on Auto Space and especially Tata Motors after news reports that the deal with UK government is bound to happen soon. The stock is likely to touch Rs 450 level soon.

NTPC and RNRL are likely to be active after the Union power ministry has given the go-ahead to state-owned power utility NTPC Ltd to intervene in the gas dispute between Reliance Industries Ltd and Reliance Natural Resources Ltd pending before the Supreme Court.

Nelcast India was a notable gainer among the midcap stocks with the stock hitting a circuit limit on Friday. We advise investor to book profits around Rs 65 level as the had a dream run after touching Rs 27 in June 2009. JBF Ind, Patni Computers and Sonata Software were among other gainers. We might see a further move up in Patni after posting good set of numbers.All eyes will be on Rolta (Rs 156) as the company will report its numbers for Q1 today. We recommend booking partial profits in the stock after a dream run.ICRA and Wire and Wireless are other stocks to watch out in today's trade.

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We have seen a strong move on the Sensex yesterday and a great deal of buying was seen in the frontliners. We have seen midcaps underperforming against our prediction. We still believe that there is lot of scope for the midcaps. If you want to remain invested in the market, better be in the midcap space.

IT as expected outperformed the rest of the pack and Banking was another bright spot in the market yesterday. We see Oil and Gas sector, Metals and Auto to be out performers. Crude prices made up the lost ground and crossed $67 dollars a barrel. Good set of numbers from Mahindra and Mahindra and positive mood in the auto sector globally might give a leg up to the auto and auto ancilliary stocks

Sensex to be range bound, Minor correction on cards

As expected, IT stocks remained solid as the sectoral index gained nearly 0.3 percent for the day. Realty stocks took a beating and rightfully so, after double digit percentage gains last week. Metals were under pressure as well.

The stock of Tata Steel is likely to witness some more selling today after reporting lacklustre results. The stock looks weak even after a sell off yesterday. We see the stock falling to atleast Rs 400 in the coming days from the CMP of Rs 442. Also stay away from the energy names like Cairn India, Essar Oil and the exploration stocks, as there might be a negative impact on this sector after a steep fall in the price of oil.

Crude futures tumbled almost 6% Wednesday as U.S. oil inventories unexpectedly rose, raising fresh concerns of weak demand. Light, sweet crude for September delivery settled down $3.88, or 5.8%, at $63.35 a barrel on the New York Mercantile Exchange.

Midcaps remained immune to the carnage yesterday. We expect this sector to be resilient during the slide in the market. IT which remained strong yesterday, might in the line of fire today,as there might be some selling pressure in this sector.20 Microns, Allied Digital, Amtek Auto, DLF, India Bulls Securities, JP Hydro and Jain Irrigation Systems are some of the stocks to watch out in today's trade.