Nifty Btst will Rock

Stocks on Dalal Street are ready get back in to rally mode, after losing ground in the past week. Expect the benchmark index or the Sensex to gain one percent or 160 points to close at 16,850.00 level, giving it a shot at surpassing the 17,000 mark in the sessions to come

We like pharma space in today's trade. Lupin is likely to put up a strong show after acquiring US rights for Anatara a anti-cholestrol drug from US based Oscient Pharma.Dr Reddy is our favorite for the day even after surging 11 percent on Friday. This stock has a long way to go from here and we expect a some MNC picking up substantial stake in this bluechip. We see a target of Rs 1300 on this stock int he short run.

Midcaps space is ready to fire some cylinders once again after putting on a good show even in a falling market. L.T Foods, Kalindee Rail, Oswal Chemicals,Orchid Chemicals and GTL Infra were among the leaders. We like GTL Infra from a speculative stand point for day trades as the stock looks poised for a strong move for the second day in a row.

Midcap IT space looks poised for an up move with Satyam,Polaris, Aftek Ltd and Mindtree in the lead. Investors should watch out for stocks like Amar Remedies, Gokul Refoils and Renuka Sugars for some quick gains

Strategy for Today's

Stocks are likely to open lower and might continue to be in red for the rest of the session. Expect, more than 100 point correction, with midcaps taking the beating.The stock of UCO Bank stood out among the midcaps, as the stock gained more than 11 percent and closed at RS 55. We recommend booking profits in this stock. Hyderabad operators are getting increasing active in Celestial Labs, which has gained more than 8 percent for the second day in a row.Dena Bank was among the top gainers along with Granules India which spurted on news of preferential allotment to its promoters.We recommend investors to stay away from the market and sit on the sidelines and short sellers could look in to shorting Banking and Real Estate stocks

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Negative opening on cards, Markets likely to recover late in the day

Stocks on Dalal Street are likely to open lower after correcting by nearly on percent on Wednesday. Expect the banchmark index or the Sensex to open lower by 0.5 percent or 70 to 80 points. Do not expect a big fall in the index, as we believe that there might be a bounce in the later half of the day, as the underlying tone is still bullish

Expect a lower open, but stocks are likely to recover in the later half of the day as we see a strong support at 16,680.00. Do not short this market, as we are not over with the bull run yet. We recommend investors to take intra-day positions if the market falls more than 150 points

Nifty 4915-20 levels support for Rebound sl 4885

Nifty weak only Below 4995 and strong above 5035

There is a strong possibility of the Sensex test the 17,000 mark during the day.

It’s no tiny matter that the market has run this far. Today, we expect a flat start though. Mixed global cues, uncertain external environment and Thursday’s F&O expiry could stop the bulls in their tracks momentarily

The stock of Kingfisher Airlines might see some pressure after the company may raise as much as $175 million selling shares and global depository receipts to repay debt. Also, Reliance Communications might be under the radar, as the company's subsidiary Reliance Infratel gets ready for an IPo some time soon

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Keep your eye on the Big picture, but watch your step

RNRL asks Supreme Court to dismiss government’s petition on Reliance Industries gas.

Caution is going to be the mantra for the next few days as the market digests the recent spurt and awaits fresh good news. Global cues are mixed. Today, we expect a cautious start after an extended weekend. Things will be volatile given that we have the F&O expiry on Thursday

Though the overall mood is positive, the road ahead will be bumpy. The fact that we have already traveled so much since early March could bring in some apprehensions. The results are just round the corner and expectations are on the positive side. Among the big risks will be inflation and its fallout on monetary policy. FIIs will continue to play a key role.

FIIs were net buyers of Rs14.86bn in the cash segment on Friday on a provisional basis. The local funds pulled out Rs5.05bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs2.97bn. On Thursday, FIIs were net buyers of Rs26.63bn in the cash segment. The net FII investments in Indian stocks this year have crossed $9.8bn. Mutual Funds were net buyers of Rs1.01bn on Thursday

The deal street is buzzing with lots of M&M action happening over the past few days

Stbt Nifty Book on time

Today, we see another day of stock taking and consolidation. Global cues too are indecisive. Our advice is don’t get too euphoric. Avoid undue risks and enjoy the long weekend. The upcoming earnings season should provide an opportunity to assess and evaluate

Nifty weak Below 4945 and strong above 4980

As always there will be surprises, both negative and positive. So, brace yourself for some volatility in the near term at least


Mahindra Satyam is close to getting back multi-million multi-year contracts from Telstra and Merrill

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Bulls rocks Above 4975 and Bears ????

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Autos were in limelight following a ruling by the Supreme Court on Wednesday to allow TVS Motor Co. Ltd to sell its “Flame” brand of motor bikes that compete with vehicles manufactured by its arch-rival Bajaj Auto. The stock gained more than 10 percent on this news. We like Hindustan Motors RS 24 as a speculative bet.

The stock of Orchid Chemicals suregd by more than 24 percent after receiving approval from the US Food and Drug Administration for its anti-infection drug Piperacillin-Tazobactam, in injectible form. We recommend investors to sell this stock at Rs 170 levels, as we do not see this as a major contributor to the bottom line in the long term. Hospitality sector was on fire yesterday with Kamat Hotels, Royal Orchid and Asian Hotels registering double digit gains. As mentioned in yesterday's column Rajesh Exports vaulted by 10 percent. We see RS 80 as the possible target.

We like Gati Ltd from short term perspective at RS 57, we see a short term target of Rs 70 within a week.Midcaps are likely to be on fire and the euphoria might spread to third rung stocks soon. Overall, a great day for speculative stocks and a good one for day traders in particular.