Weak global cues and RBI credit policy affected Indian market negatively in the earlier hours, but Indian Indices recovered in the second half session. SENSEX closed at 16357, up 51 points and Nifty at 4882, up 14 points from the previous close. CNX MIDCAP index was up 0.89% and BSE SMALLCAP index was up 1.20%. BANKING stocks attract maximum buying interest. A steel stocks recovered some loses. Top gainers included ICICIBANK, BHEL, DLF, SUNPHARMA, SBIN, ABB, SUZLON and SIEMENS. Top losers are listed as HUL, WIPRO, TATAMOTORS, TATASTEEL, WIPRO, BHARTIARTL and JINDALSTEL,

In the next session we expect nifty to continue the gains but it may face selling pressure at higher levels. Traders are suggested to follow the strategy of selling at gains. NIFTY has an immediate support at 4815 resistance 4940-66

EXPECTED BULLISH STOCKS:

ICICIBANK, BOB, BOI, OBC, ALBK, VIJAYABANK, RELCAPITAL, AXISBANK, JSWSTEEL, MARUTI, BHEL, SUNPHARMA, BHUSANSTEEL, PNB, NMDC, HANUNG TOYS, KFA, JETAIRWAYS.

EXPECTED BEARISH STOCKS:

JINDALSTEL, TATASTEEL, WIPRO, PATNI, TCS, INFOSYS, HDIL, RPOWER, SAIL, HCLTECH.

NIFTY AND BANK NIFTY FUTURE:

BUY NIFTY FUT ABOVE 4890 SL BELOW 4864 TGT 4915-4928-4964 BUY BANK NIFTY FUT ABOVE 8643 SL BELOW 8604 TGT 8700-8747-
8780.

FOLLOW UPS.

HCC SELL CALL GIVEN BELOW 129 TGT 125-122 MADE A LOW 124.

JAICORP SELL CALL GIVEN BELOW 288 TGT 281 ACHIEVED.

IOB SELLCALL GIVEN BELOW 93.5 TGT 87 MADE A LOW 88.

PNB FUT BUY CALL GIVEN ABOVE 884 TGT 890-903 MADE A HIGH 893.

HDIL SELL CALL GIVEN BELOW 310 TGT 304 MADE A LOW 307 BEFORE THAN STOPLOSS TRIGERRED.

BANK NIFTY FUT BUY CALL GIVEN ABOVE 8510 TGT 8630-8700 MADE A HIGH 8685.