Huge buying over METALS. BANKING, REALITY and OILGAS STOCKS led NIFTY to close above 31-months high. SENSEX shut shop at 18560, up 338 points and Nifty at 5576, up 97 points from the previous close. CNX MIDCAP index was up 1.1% and BSE SMALLCAP index was up 1.8%. The market breadth was positive with advances at 989 against declines of 292 on the NSE. Top gainers included TATASTEEL, HINDALCO, ICICIBANK, STER and JAIPRA while top losers are listed as HEROHONDA, RCOM, HUL, LT, CAIRN and BPCL.

Next Day Trading Session:

In the next session NIFTY is expected to trade in the range 5520-5610. However, 5480 might act as strong support level for NIFTY. Traders are suggested to buy at dips. Banking stocks may attract buying again. Auto and reality may also appear strong while PHARMA and FMCG may face selling.

Fundamental Picks

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

Dena Bank has achieved its target of Rs. 108
Visaka Industries has achieved its target of Rs. 180
Man Industries has achieved its target of Rs. 90
Aarti drugs has achieved its target of Rs 135
Indoco Remedies has achieved its target of Rs 465, call given at Rs. 388
Riddhi Siddhi Gluco Biols has achieved its target of 258, call given at 216
Ess Dee Aluminium has achieved its target of Rs 520
TNPL has achieved its target of Rs. 115

Corporate Highlights

Criticare Systems Inc., the wholly-owned subsidiary of Opto Circuits (India) has received Section 510 (K) US FDA (United States Food & Drug Administration) clearance on new modular patient monitoring system - eVision 9100. The latest certification enables Criticare to market and commercially distribute eVision 9100 in most parts of the world, particularly in the US, which is
one of the largest markets for patient monitors.

Prism Informatics and Al Suwaidi Holding Company have entered into an MOU for purchase of 51% stake in Information Management Technologies (IMT) business of Al Suwaidi Holding Company based in Saudi Arabia.