Bulls set to dominate for the second day in a row Stocks in India are poised open higher for the second day in a row after the indices vaulted by more than 3 percent on Tuesday.Expect the indices to gain more than 250 points or 2 percent for the day as the buying spree is likely to continue.
Mixed economic data Tuesday reminded investors of the challenges businesses still face and left the market zigzagging all day. Great set of numbers from investment bank Goldman Sachs failed to excite the market. The Dow rose 27.81, or 0.3 percent, to 8,359.49. The Standard & Poor's 500 index rose 4.79, or 0.5 percent, to 905.84, while the Nasdaq composite index rose 6.52, or 0.4 percent, to 1,799.73. Intel Corp. issued a strong profit report and better-than-expected forecast after the market closed on Wall Street. This will be a give the much needed boost for the bulls this morning. Midcaps which have succumbed to heavy selling for the past few weeks have bounce back with the Midcap index gaining more than 4 percent for the day. Technology stocks are expected to open firm on the back of good news from Intel. we have seen a big run up in Realty stocks with the realty index soaring by 9.5 percent for the day.Realty and banking stocks will show a sideways movement with minor gains. We prefer select midcap speculative stocks as these stocks are likely to play catch up soon. Oil exploration stocks have seen a humungous run with Aban Offshore gaining more than 25 percent on huge volumes as some prominent bears in the market were caught offgaurd in this stock. Hind Oil explo caught the same fever vaulting by 20 percent. Stay from these counters for now. Bulls are likely to continue their domination for the second consecutive day in a row. concentrate on IT and midcap stocks.Day traders could look at stocks like Polaris Rs 91, which is likely to score a century soon. B.Karthick Research analyst --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
