Indian market had an all time high turnover in a high volatile session. Market fell in the earlier hours on account of weak global cues, later recovered but closed negative. SENSEX closed at 16859, down 191 points and Nifty at 5036, down 58 points from the previous close. CNX MIDCAP index was down 0.83% and BSE SMALLCAP index was down 1.14%. Top gainers included BHEL, ITC, HUL, IDEA, HCLTECH and JINDALSTEL. Top losers included TATASTEEL, LT, DLF, SUNPHARMA, JPASSOCIATE, RANBAXY, SUZLON and ABB.

Nifty is expected to trade in a range 4940-5085. Traders are suggested to follow the strategy of selling at gains. FMCG and TELECOM SECTOR may perform well in the next session. Real estate and steel stocks are looking weak.

EXPECTED BULLISH STOCKS: IDEA, RCOM, BHARTIARTL, MTNL, ITC, HUL, BHEL, ABB, BOI, BOB, ICICIBANK, ALBK, LT, TECHM, HCLTECH, JINDALSAW, GTL, JINDALSTEL, CENTRALBANK, MARUTI, PARSVANATH.

EXPECTED BEARISH STOCKS: HDIL, DLF, PUNJLLOYD, IVRCLINFRA, GUJNRE, RANBAXY, TATASTEEL, SESAGOA, BHSHANSTEEL, SUZLON, LICHSGFIN, AXISBANK, HCC.

NIFTY AND BANK NIFTY FUTURE: SELL NIFTY FUT AT GAINS WITH CLOSE STOPLOSS 5086 TGT 5002-
4985-4940.

SELL BANK NIFTY FUT BELOW 8735 SL 8777 TGT 8690-8640-8580.