Indian market traded in a range with high volatility, finally closed flat. IT and FMCG stocks appeared weak while Banking and OIL-GAS stay strong. The Sensex closed at 19007, down 39 points from its previous close, and Nifty closed at 5696, down 15 points. The CNX Midcap index was up 0.2% and the BSE Smallcap index was up 0.4%. The market breadth was positive with advances at 699 against declines of 598 on the NSE. The top Nifty gainers were Reliance Infra, BPCL, Reliance Power and SBI and prime losers included Wipro, ONGC, HCL Tech and ACC. The FIIs were net sellers with sales worth Rs 368 Cr

Market Outlook

In the next session, again NIFTY is likely to face resistance around 5750-70, while 5670 may act as support. Traders are suggested to be cautious of long position as long as NIFTY is trading below 5750. Banking stocks may show some strength while IT and Telecom may face selling pressure.

Expected Bullish Stocks

M&M
LICHSGFIN
WELCORP
HINDPETROL
DISHTV
IOC
BPCL
RELINFRA
BANKINDIA
BANKBARODA
PFC
ZEEL
SUZLON
BATAINDIA
SESAGOA
HINDALCO
TATASTEEL
STER

Expected Bearish Stocks

FINANTECH
WIPRO
INDUSIND
STFC
JSWSTEEL
HCLTECH
MPHASIS
OIL
PFC
ONGC
ACC
ULTRACEMO
UNITECH
DLF
LT
DRREDDY
LUPIN
HCC