Again, Indian indices traded in a small range, oscillated above and below the dotted line, finally closed flat to positive. SENSEX closed at 17955, up 46 points and Nifty at 5393, up 15 points from the previous close. CNX MIDCAP index was up 0.54% and BSE SMALLCAP index was up 0.66%. The market breadth was positive with advances at 725 against declines of 546 on the NSE. Top gainers are listed as TCS, TATAMOTORS, ICICIBANK, RCOM, ONGC, HCLTECH and KOTAKBANK while top losers included M&M, HDFCBANK, RIL, HDFC, JSPL, GAIL and AMBUJACEM.

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. Also, traders are suggested to be cautious if NIFTY traded below 5350. BANKING and IT may trade strong while OIL-GAS and PHARMA may face profit booking.

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

National Thermal Power Corporation (NTPC) has announced that the unit 6 of 490 MW of National Capital Thermal Power Project, Dadri was synchronized with coal on 16 July 2010. This was the second unit planned to provide power to Common Wealth Games to be organized in Delhi in October 2010.

Jet Airways has capitalised on the improvement in global business and leisure travel, posting strong passenger load factors for June 2010, which also mark the ninth straight month of increase in passenger traffic for the airline. The airline has recorded an impressive growth in seat factors, which stood at a high of 82.2% with Jet Airways carrying 3.65 lakh revenue passengers internationally registering a buoyant 31% increase as compared to the same period last year.