Nifty Stbt Book in Profit

There are two sets of news reports that might impact on the markets this morning.Members of Sebi have suggested a phased reduction of the securities transaction tax, as part of a package of measures to develop the capital markets that was discussed with FM late in May. Meanwhile HDFC Bank has revised upwards India's growth forecast from 5.8 per cent to 6.5 per cent for FY 10.

Traders could concentrate on Oil stocks like ONGC and Cairn India (Rs 259) for quick gains as oil prices continue to climb and is likely to breach the $ 70/barrel. The stock of Unitech might see some buying interest on the news that the company plans its debt by selling some assets.The going for the market from the current level is going t be tough.

Investors are likely to selective and only few winners might emerge from current levels. We have recommended one multi-bagger in Healthcare and a swing trading call in Engineering sector today.

Some of the stocks to watch in today's trade are; Gwalior Chemical which is set to report Q4 numbers today, Saregama ahead of its preferential issue, VIP Ind before its quarterly numbers on tuesday. Over all, a flat to positive market with some sparks in the midcap space

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Cairn Hot Buy

Metals and Oil stocks might lead the rally today as the sectors are the first to benefit from a global recovery. Focus on Cairn Energy from the Oil sector and Sterlite Ind, SAIL, Tata Steel are the picks in the Metals sector. We might also witness some interest in Real estate stocks like DLF and Unitech.

Coming to stocks specific action, Guj NRE Coke looks tempting at Rs 56 after the news of take over of mines in Australia. We reiterate a 'Buy' on Shipping Corp and ITI, especially after the news of aid to the telecom firm from the government. We also like Bharti Shipyard, ABG Shipyard and last but not the least drilling stocks like Great Offshore, Aban Offshore and Jindal drilling

Yesterday Stbt nifty Book in Profit

FMCG stocks sprung back to life in yesterday's trade as investors bet on sectors that have underperformed in the past 12 months. Textile stocks were on fire on hopes of favorable textile policy in the soming budegt. Some tax relief and relaxation of FDI norms is on cards. Stocks like Arvind Mills, Alok Textile and Skumar's were active and are likely to be major beneficiaries of the measure.

Leather and Apparel stocks are also seeing some demand, as stocks like Crew BoS, Mirza tanneries and Evinix Apparel have shown a bullish pattern on Wednesday's trade. Oil related stocks like Cairn India might come under some pesuure after fall in crude prices. On the New York Mercantile Exchange, July crude settled down $2.43, or 3.54 percent, at $66.12.

Overall the market is expected to remain in the negative territory, barring some gains in select midcap stocks.Watch out for some select stocks like Power Finance Corporation, Jyothy Laboratories, Nagreeka Exports and Divi's Laboatories.

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The markets have traded in negative territory for the most of Tuesday but managed to close above the dotted line in the final hour of trade.Consumer durables, metal and auto sectors performed relatively better than rest of the sectors. Tata Steel, SAIL and Tata Motors were among the major gainers and these stocks are likely to be firm today.

We like some select stocks in today's trade.The stocks of Satyam computer is likely to steal the limelight for the second day in a row as there is some speculative build up by the operators ahead of the closure of the open offer. The stock might touch Rs 70 in the coming days and is a good bet for traders with risk appetite.

We also like the oil pack HPCL, BPCL & IOC ahead of the regualtion and believe that there is still a 20-30 percent move left in these stocks. Micap and smallcap stocks might cool off a bit, as they ae witnessing some profit booking after a massive run up.

For today's trade watch out for tea stocks like Mcleod Russel, Infra stocks like Orbit Corp, GMR Infra and last but not the least Power Finance Corporation and NALCO might join the parade. Overall, expect a positive day but not do not expect a big up move

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Commodities might lead the bull run as the prices of metals firmed up due to the falling dollar. Crude was a major beneficiary of the weakness in the dollar. The price of oil touched $ 68 mark today in Nymex. Cairn India, Essar Oil and Reliance Petroleum might trade up. In the metal space we stock with Sterlite Ind.
Auto Stocks like Tata Motors and Mahindra might catch some attention as they are likely to benefit at least to some extent, by the branktptcy of US auto giant GM.We like Tata Motors in particular from the auto space.

There was some brisk trading in some select Hotel stocks yesterday. Hotel Leela has seen a volume of more than 12 million shares on the NSE and the scrip was locked in 20 percent circuit.Other stocks in the sector like Taj GVK and Royal Orchid ended with strong gains.HPCL, IndiaBulls Real Estate, Power Finance and GMR Infra along with airline stocks like Spice Jet and Kingfisher Air are the stocks to keep on radar for today's trade.

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We like commodity related stocks like Sterlite Ind, SAIL and Hindalco on today's trading. Metals sector is taking a bet in the short term as hot money is flowing in to these sectors and we might see a sharp move on some speculative buying.

Shipping is another sector we think is a decent trade at current levels. Investors could bet on recovery in global trade and firming shipment rates. The Baltic Dry index that tracks the shipping rates has vaulted by 96 percent for the month of May.Shipping related stocks like Bharati Shipyard, Great Offshore Ltd and shipping stocks like Mercator lines, Varun Shipping and Shipping Corp might see some demand.

Oil stocks are looking hot ahead of deregulation and HPCL, BPCL, Indian Oil are some of the major beneficiaries of the move. Also watch out for stocks like Vishal Retail, Opto circuits, Nalco and Mcleod Russel in today's trade.Over all a flat to negative day with stock specific activity in the offing for investors in Dalal Street.

Carin,Onmobile, Gic Housing to run

Metals and PSU stocks were active in yesterday's trading. Metals might continue their up move an are in a clear uptrend.Investors are advised to focus on textile and power stocks for the next few sessions.

We like Alok Textiles, Bombay Rayon, Gokuldas Exports and Garware Wall in this sector . We strongly believe that this sector is getting for a re-rating after lying lows for the past few years. Also, keep a close eye on leather apparel stocks like Crew Bos, Evinix Accessories and Mirza tanneries to take advantage of the sops that will be announced soon.

Lanco Infra, Arvind Ind, Radico Khaitan,Voltas and Welspun Guj are some of the stocks to keep on the radar for intra day trades. Overall a higher opening is on the cards for the Sensex with a great finish to the week.