It was roller coster ride yesterday with markets which were in loosing streak from last 7 trading sessions bounced back in style.Sensex gained more than 500 points and Nifty gaining near to 147 Points. The cheer came in markets after Pranab Murkerjee ascertaining his stand on Stimulus package.Reality and Capital goods are major hits in yesterday trade. Not to forget RIL did contributed its part for the markets.
Back in US at wall street the markets opened in green but gave up the gains in the last hour of trade. Dowjones closed with 30 points gain at 9802 and NASDAQ closed almost flat with negative divergence. Gold is trading at highest points.
Asian markets are trading mixed with SANGHHAI trading in positive with 0.4% gaines and NIKKIE is down nearly 1.2% at this point of time.
Indian markets are expected to open flat to positive but today would be an consolidation time for the markets after bull ride yesterday . we may see markets to trade range bound. and we may see direction for the markets in the afternoon trade once European and Dow futures opens.
Some of the stocks which gained in double digit percentages would be the best candidates to short. Some of the stocks to watch out for todays trade are RNRL, MOSER BAER, ADSL and on the negative side one can short stocks in reality counter side.
Over all we see markets wouldnt be hurry to touch the recent highs and also wouldnt be hurry to touch 4400 mark.
Also for accumulation we advice members to keep an eye on DISH TV and spice jet below 30 Rs . IndiaBulls securities is also good candidate for short term gains.
Think soft which is in operators grip may crack at any time . Go short on this stock at 247 - 251 with strict stop loss 255.
Overall we may see markets trading in range bound and may look for consolidation.
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