Indian indices traded in a small range, oscillated above and below the dotted line, finally closed almost flat. SENSEX closed at 17909, down 29 points and Nifty at 5378, down 7 points from the previous close. CNX MIDCAP index was up 0.03% and BSE SMALLCAP index was up 0.12%. The market breadth was negative with advances at 566 against declines of 714 on the NSE. Top gainers are listed as  AXISBANK, RELCAPITAL, HUL, TATAMOTORS, TCS, TATASTEEL, TATAPOWER, SAIL and KOTAKBANK whereas top losers are listed as ONGC, RCOM, HDFCBANK, SBIN, UNITECH, GAIL and BPCL.

Next Day Trading Session:

Nifty has built a good support around 5350-5360. Buying is expected in NIFTY from this level, how ever NIFTY may attract buying if traded above 5410. Traders are suggested to stay long as long as NIFTY holds 5350 (intraday). Also, traders are suggested to be cautious if NIFTY traded below 5350. FINANCE SECTOR along with FMCG may attract buying while TELECOM and IT may face selling pressure.

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.

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

Jai Balaji Industries has received the BIS certification for company's newly installed 240000 tons per annum Ductile Iron Pipe Plant.

Hyderabad Industries has announced that the Haryana State Pollution Control Board, vide its order dated 12 July 2010 has suspended its closure order in respect of the company's thermal insulation products manufacturing unit at Dharuhera.

Development Credit Bank (DCB) has received permission to open two semi-urban / rural branches in Gujarat. The locations are Netrang, a rural branch in Bharuch district and Mandvi, a semi-urban branch in Surat district.