Indian market again had a highly volatile session. After trading in red most of the time it attracted good buying in the latter half of the session and closed with good gains. Except Capital Goods almost all sectors including Banking, Auto, It and Metals closed with good gains.

The Sensex closed at 19534, up 337 points from its previous close, and Nifty closed at 5863, up 109 points. The CNX Midcap index was up 1.4% and the BSE Smallcap index was up 1.5%. The market breadth was positive with advances at 976 against declines of 326 on the NSE. The top Nifty gainers were Suzlon, Sterlite Industries, Tata Motors and ICICI Bank and prime losers included Bajaj Auto, L & T, HUL and Tata Power. The FIIs were net sellers with sales worth Rs 371.5 Cr (prov. cash market fig)

Market Outlook

In the next session, NIFTY is expected to attract good buying with 5790 and 5750. However, 5910 and 5959 may act as resistance levels for NIFTY traders are suggested to buy at dips keeping in view the given support levels. Banking and Metals may attract more buying while Pharma and FMCG may face selling pressure.

Expected Bullish Stocks

ORCHIDCHEM
SUZLON
RCOM
RENUKA
INDIABULLS
ESSAROIL
TITAN
STER
OPTOCIRCUI
AXISBANK
IFCI
GRASIM
HCLTECH
TATAMOTORS
ABAN
PNB
HINDOIL
TATASTEEL

Expected Bearish Stocks

IOC
BEL
VOLTAS
TORNTPOWER
ULTRATECH
Castrol
BAJAJ-AUTO
THERMAX
HINDPETRO
JETAIRWAYS
MARUTI
BANKINDIA
LT
BAJAJ-AUTO
IVRCL
CIPLA
GLENMARK
PIRHEALTH