Stocks to trade in a narrow range, Realty stocks set to extend their gains
Stocks on Dalal Street are likely to trade in a range after ending flat yesterday in choppy trade. Expect the benchmark index or the Sensex to trade in a band of 100 to 150 points. Some sector specific buying should emerge in Housing related stocks, especially Realty, Housing Finance and Cement companies after the announcement from FM. Stocks edged higher Monday after zigzagging in subdued trading on mixed economic and corporate earnings reports.The Dow rose 15.27, or 0.2 percent, to 9,108.51, its first finish above the 9,100 mark since Nov. 5. The broader Standard & Poor's 500 index rose 2.92, or 0.3 percent, to 982.18. Finance minister Pranab Mukherjee on Monday proposed to provide support to borrowers by way of interest subvention of 1% on all housing loans up to Rs10 lakh to individuals, provided the cost of the house does not exceed Rs20 lakh. The loan rebate will be available for one year.Watch out for stocks like DLF, Unitech finance companies like HDFC, LIC Housing Finance and other midcap stocks in the realty stocks. Banking stocks are likely to make a come back after being flat for the past few weeks. We like private banks like Yes Bank, Vjaya Bank and Bank of Rajasthan might see some action after being the woods for a while.Midcaps will be the bright spots in this choppy markets as investors are more likely to look for winners in this space. Watch out for stocks like 3I Infotech, Bajaj Hindustan, Clutch Auto, Gitanjali Gems, GMR Infra, GVK Power and KingFisher Airlines which are expected to report their quarterly numbers today. RNRL is another stocks that might be under the radar on the news of QIP placement some time soon. "USE EVERY RISE TO BOOK PROFITS" "ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS" Key Levels for Today Trade: NIFTY INDEX Resistance : 4586 / 4637 / 4655 / 4690 NIFTY INDEX Support : 4568 / 4523 / 4502 / 4469 / 4398 Mean : 4577 Key Numbers for NIFTY on upside ------ Key numbers for NIFTY on down side ------- Key resistance for NIFTY for this settlement ------ BANK NIFTY INDEX Resistance: 7486 / 7575 / 7663 / 7745 BANK NIFTY INDEX Support : 7368 / 7280 / 7186 / 6992 Mean : 7427 Previous Close Box: BSE Sensex 15375.04 -3.92 NSE Nifty 4572.30 3.75 USD Rs.48.21 Oil Nymex $68.15 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
