***Midcaps to lead the rally, Sensex to move sideways*** Mar 27, 2009 Stocks in India are likely to move side ways after a huge move on Thursday taking the Sensex past the five figure mark. Expect the benchmark to trade within a a band of 100 points on either sides. Asian stocks climbed in the regional benchmark index’s biggest weekly rally since 1998, as higher commodity prices and better-than-estimated earnings at U.S. companies boosted optimism. The MSCI Asia Pacific Index rose 1.3 percent to 86.58 and Japan’s Nikkei 225 Stock Average gained 0.8 percent. Better-than-expected earnings from big consumer brands and strong demand for government debt at the Treasury Department's latest auction sent the Dow Jones industrial average up 174 points on Thursday.The Standard & Poor's 500 index rose 18.98, or 2.3 percent, to 832.86, and the Nasdaq rose 58.05, or 3.8 percent, to 1,587.00. After underperforming for the past few weeks, Consumer Goods sector was back in action with decent gains. 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 baks 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.
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