Sensex to resume its uptrend, Midcaps in spotlight Stocks on Dalal Street are likely to trade up on opening bell after closing in red on Monday. We expect the Sensex to gain nearly 100 points or nearly 0.7 percent for the day. Midcap and Smallcap stocks were in demand yesterday and this trend is likely to extend.
Stocks in Asia are having a good Tuesday after experiencing a slow start for the week. South Korea's Kospi gained 0.8 percent in the first hour of trade, where as Japan's Nikkei is up nearly 0.5 percent for the day. Stocks in Australia's benchmark is flat after closing in green on Monday. Stocks bounced back from early losses to post moderate gains as traders funneled money into utility and financial companies. Major market indexes ended at their highest levels in nearly a year.he Dow rose 21.39, or 0.2 percent, to 9,626.80. The broader Standard & Poor's 500 index rose 6.61, or 0.6 percent, to 1,049.34, an 11-month high. The Nasdaq composite index rose 10.88, or 0.5 percent, to 2,091.78. Auto and PSU stocks were the leaders in Monday's trade led by Tata Motors, PNB and SBI. We see Power and IT sector in Tuesday's trade.As mentioned in yesterday's column, Textile firm Himatsinka Seide firmed up on the bourses and registered a 20 percent gain on huge volumes. We recommend investors to book partial profits around Rs 49 to RS 50 area. Other firms in the textile business, like Provogue also played catch up yesterday. But the volume is something that is looking unusual and one can expect a speculative move in this stock. So traders could book profits in Himatsinka and swtich to Provogue for some quick gains. PNB Gilts is my favorite for the day today as we hear rumors of PNB looking to sell its stake in the company.The stocks is at a key technical level and if it manages to break Rs 32 we might see a target of Rs 42 in this stock. Hindustan Motors is another speculative play as we believe that this might catch traders fancy as this is the Auto sector, which is hot now and also has a realestate story attached to it. A good bet for traders with risk appetite. "USE EVERY RISE TO BOOK PROFITS" "ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS" Key Levels for Today Trade: NIFTY INDEX Resistance :4835 / 4860 / 4887 / 4921 NIFTY INDEX Support :4805 / 4782 / 4757 / 4732 Mean :4820 Key Numbers for NIFTY on upside 4835 / 4860 / 4887 Key numbers for NIFTY on down side 4805 / 4782 BANK NIFTY INDEX Resistance:8079 / 8173 / 8267 BANK NIFTY INDEX Support :7868 / 7810 Mean :7973.5 Previous Close Box: BSE Sensex 16214.19 -50.11 NSE Nifty 4808.60 -20.95 USD Rs.48.70 Oil Nymex $68.85 --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
