Indian market encountered profit booking after a gap-up opening, finally closed in red. In weak global cues, SENSEX shut shop at 17938, down 47 points and Nifty at 5386, down 14 points from the previous close. CNX MIDCAP index was down 0.32% and BSE SMALLCAP index was down 0.26%. The market breadth was negative with advances at 517 against declines of 761 on the NSE. Top gainers included SBIN, LT, HDFCBANK, DLF, HEROHONDA, AXISBANK and SIEMENS. Top losers are listed as M&M, INFOSYSTCH, WIPRO, ACC, STER and GAIL.

Next Day Trading Session:

In the next session NIFTY is expected to trade in the range 5350-5450. NIFTY has strong support levels at 5350 and 5300.

Traders are suggested to follow the strategy of buying at dips. CAPITALGOODS and BANKING STOCKS may attract buying
while PHARMA and IT may face more selling.

Fundamental Picks

Investors who have a horizon of 6-12 months can buy the following companies. The companies have potential to give higher returns than index over a long term.

United Phosphorus Ltd
Nahar Spinning Mills Ltd
MphasiS Ltd
Allied Digital Services Ltd
Bartronics India Ltd
DIC India Ltd
Dena Bank Ltd
Nectar Lifesciences ltd
GEI Industrial Systems Ltd
TNPL
Indoco Remedies Ltd
JK Paper Ltd
Ballarpur Industries Ltd
Aarti Drugs
Riddhi Siddhi Gluco Biols
Electrotherm (India)
Balkrishna Ltd.
McNally Bharat
Ess Dee Aluminium
Hyderabad Industries
Monnet Ispat
Biocon
Alembic
Visaka Industries
Munjal Showa
Jindal Saw Ltd

Visaka Industries has achieved its target of Rs. 180
Man Industries has achieved its target of Rs. 90
Aarti drugs has achieved its target of Rs 135
Indoco Remedies has achieved its target of Rs 465, call given at Rs. 388
Riddhi Siddhi Gluco Biols has achieved its target of 258, call given at 216
Ess Dee Aluminium has achieved its target of Rs 520
TNPL has achieved its target of Rs. 115

Corporate Highlights

AREVA T&D India has successfully commissioned the Main Receiving Sub-station (MRSS) for the power supply to the new Terminal (T3) of Indira Gandhi International Airport in the National Capital, New Delhi.

Rolta has said that its flagship product Rolta OnPoint – an award winning Geospatial Fusion solution (2009 Microsoft Partner Network IMPACT Award winner for the Data Management Solution of the Year) has been certified OGC compliant, an international interface and encoding standard for geospatial interoperability.