Market to correct sharply, Exit speculative Midcaps

As mention on Monday be on bear side for Today markets are likely to correct sharply. Expect the becnhmark index to lose 4 percent or more than 400 points for the day, as investors are likely to book profits

As expected the markets are ripe for correction and we might see a huge wave of selling in the first hour of trade. Some of our favorite short selling trades today is Reliance Communications (Rs 218) which has gained over 70 percent from its 52 week low, Metal stocks like Tata Steel and Hindalco are other stocks in the index that might correct and might provide a great opportunity to short.

We advice investors to get rid of speculative stocks that have been on rage in the past few weeks. Investors can look at booking profits in Essar Oil, Deccan Chronicle and Nagarjuan Constructions that have gained nearly 80 to 100 percent in the past month. Bears are likely to dominate the whole day. We advice investors against bottom fishing in this market

Buy Hpcl And Sell cairn for unlimited Profit

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Nifty 3300+ Seems

Tech sector might steal the thunder today as the sector has underperformed the Sensex in the past few weeks. Also the news of two multi-million contracts being awarded to HCL Tech, might provide the mich needed fuel for technology stocks. We like midcap stocks like Mastek and Mindree in this space from a trading perspective

Hospital stocks like Apollo Hospitals and Fortis Healthcare are also likely to be under the radar as Wockhardt plans to sell 24% of stake in its subsidiary Wockhardt Hospitals

Radar stock - Hcl,Satyam.....


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Bulls in command, Midcaps to lead the rally

we strongly recommend Bajaj Hindustan Sugar at the current level of Rs 50 for atleast a 20 percent appreciation.


Our Pick For today - Batronics

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Time to book some profits, Keep an eye on sugar stocks

SELL
Wockpharma - target for clients

We might see a small bull back in banking and real estate stocks today.

Investors can book some profits in metal stocks like Tata steel and Hindalco on an upmove today. Most of the action is likely to be limited to the speculative midcap stocks.

Tea stocks were hot yesterday and its time to take a break these stocks. Book profits in Harrison Malyalam and Jayshree Tea, as the move is not convincing. ICSA, Skumars Nationwide and Bajaj Hindustan are the stocks to watch out for the next few sessions. Finally, we don't make tea without sugar. So watch out for Sugar stocks to rally today

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BUY ON DECLINES

Radar - Icsa/Opto Circuit/Anu lab,Nelco

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Nifty will target 30_ _ 100%

Sell cairn for target 17_ 200%

The profit booking has checked the rally and has moved to the
correction of the rally of 580 points in Nifty. The daily trend
has turned down and the monthly trend is doubtful to turn up.
Looking at the velocity of the fall, this correction may go
down to 2890 levels in coming days with minor pull backs in
between. However, the support for the day is seen near
9400/2925 while the resistance for the day is seen near
9800/3050. We maintain our view, that after a due correction,
the market will pick up once again. Selective stocks should be
picked up on declines

Sell Cairn and Buy Hpcl, Bpcl

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Midcaps to lead the rally, Sensex to move sideways

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Havells Indis and Crompton Greaves were major gainers in yesterdays move. Banks are likely to correct after a huge move in the past 2 weeks.

Book profits in banks from short term view. We advice investors to stay outside the market as we might see some correction in the near future.

Also, stay away from speculative midcaps there is a strong possibility of the operators dumping their positions at higher levels, if things get worsened. As mentioned in our review yesterday,

Realty stocks corrected quite a bit and might stay sideways for the next few sessions.

Expect the Sensex to be flat with some action in selective midcaps with speculative interest. Lanco Infra, Deccan Chronicle, Aban Offshore and Orchid Chemicals have shown some sparks and might repeat their performance today