Indian market faced selling pressure and closed with moderate losses. IT-sector may appear as major loser while Realty and Metals showed strength. The Sensex closed at 18978, down 113 points from its previous close, and Nifty closed at 5691, down 33 points.

The CNX Midcap index was up 0.2% and the BSE Smallcap index was also up 0.2%. The market breadth was negative with advances at 628 against declines of 656 on the NSE. The top Nifty gainers were SAIL, HCL Tech, DLF and Sterlite Industries and prime losers included Ambuja Cements, Suzlon, GAIL and Infosys. The FIIs were net sellers with sales worth Rs 270.38 Cr (prov. cash market fig)

Market Outlook

In the next session, NIFTY is likely to face selling pressutre at higher levels 5750-5770. If sustains below 5625 it may come down to test 5550-5500 levels. Traders are suggested to trade in stock specific action and be cautious of long positions below 5625 .

Expected Bullish Stocks

PNB
IDEA
POWERGRID
SRTRANSFIN
CASTROL
NALCO
PETRONET
IGL
ADANIPOWER
MARICO
HDFC
AXISBANK
BHARTIARTL
JISLJALEQS
TCS
PATNI
TATAGLOBAL
COREPROTEC

Expected Bearish Stocks

ZEEL
CESC
M&MFIN
PANTALOONR
RCF
MARUTI
SAIL
NAGARCONST
BAJAJ-AUTO
AXISBANK
HCC
CANBK
LICHSGFIN
IBREALEST
DLF
IOB
HPCL
HDIL