SENSEX closed at 17935, up 243 points and Nifty at 5368, up 77 points from the previous close. CNX MIDCAP index was up 1.5% and BSE SMALLCAP index was up 2%. The market breadth was positive with advances at 1059 against declines of 231 on the NSE. Top gainers included RELINFRA, HEROHONDA, BHARTIARTL, DLF and TATASTEEL. Top losers are listed as HUL, TCS, GRASIM, LT, ITC, IDEA and BPCL.

Next Day Trading Session:

Nifty has built a good support at 5300 and 5321. In the next session, NIFTY may attract buying at little dips. 5409 may act as a resistance level. Traders are suggested to buy at declines. Banking and Real-estate may attract major buying. If CNXIT-FUTURE trades above 6010, IT stocks may also show positive rally.

Fundamental Picks

Investors having a horizon of 6-12 months can buy the following companies. The companies have a potential to give higher returns than index over a long term.

Engineers India Ltd. has achieved its target of Rs 2400, call given at Rs 1610, so we suggest partial profit booking to our clients.

Valecha Engineering has bagged two new projects worth Rs. 255 crore. One of the projects is a BOT highway project worth Rs. 200 crore at Madhya Pradesh. The other order is for piling works worth Rs. 55.00 core at Orissa for Indian Oil Corporation refinery.

McNally Bharat Engineering Company has received an order for design, engineering, manufacturing, supply, erection, testing and commissioning of balance of plant package on EPC basis including civil works for 2X250 MW Satpura TPS extension units 10 and 11 for a value of Rs. 827 crore inclusive of all taxes and duties except entry tax, if any.

Talbros Automotive Components has recently started its fourth gasket manufacturing plant at Sitargunj, Uttrakhand, in addition to the existing plants at Faridabad, Pune and Chennai.

KEC International has announced the setting up of a state-of-the-art new tower testing station at Butibori, Nagpur. The test station is the largest of its kind in the world.

TTK Healthcare has recently acquired the Ortho business from a company at Chennai, manufacturing and marketing various Orthopeadic implants including the total knee replacement system.

Opto Circuits (India) has acquired N. S. Remedies based in Kolkata (India). N.S.Remedies has an advanced facility for stent manufacturing, research and development. The cost of the acquisition is about US$ 1.50 million through an all cash deal.

INOX Leisure has announced that the commercial operation of the company's new Multiplex Cinema Theatre situated at CMR Mall, Maddilapalem, Visakhapatnam, commenced from 05 April 2010.

Larsen & Toubro (L&T) has won a critical offshore platform contract from Gujarat State Petroleum Corporation (GSPC) valued at Rs. 1060 crore (US$ 235 million). GSPC awarded this project to L&T over the claims of other bidders in order to accelerate production of first oil/gas by 2012 from its technically challenging KG Basin, off the East Coast of India.

Great Eastern Shipping Company (GE Shipping) has announced that the company has been in discussions with Hyundai Heavy Industries (HHI), South Korea and both parties have mutually decided to modify the contracts signed in July 2008 and build 3 Very Large Crude Carriers (VLCCs) of 318,000 dwt each instead of the 2 Suezmaxes

ACC produced 1.94 million tonnes of cement and dispatched 1.94 million tonnes of cement during March 2010 as compared to 1.99 million tonnes produced and 2.01 million tonnes dispatched during March 2009.

Ispat Industries raised prices of its products by Rs 2,500 to Rs 2,700 a tonne from 1 April 2010 due to higher raw material prices.

Disclaimer: The above mentioned ideologies are based on the research done at Fairwealth research department. Fairwealth securities (P) Ltd will not be responsible for any kind of losses incurred by any party either directly or indirectly based on our research results, though we have presented to the best of our knowledge.