Indian market ignored the RBI-RATE HIKE news flow and traded in a range, finally closed almost flattish. The SENSEX closed at 20345, down 10 points from its previous close, and Nifty closed at 6119, up 2 points. The CNX MIDCAP index was up 0.6% and the BSE SMALLCAP index was up 0.1%. The market breadth was negative with advances at 636 against declines of
666 on the NSE. The top Nifty gainers were ACC, AMBUJA CEMENTS, WIPRO, LT, TATASTEEL, ITC, BPCL and BPCL and losers included CIPLC, TATAMOTORS, TATAPOWER, DLF, SUZLON, BHARTI AIRTEL and RIL.

Next Day Trading Session:

In the next session, again NIFTY is expected to trade in the range 6094-6151. Breaching of levels either side may decide the trend. Traders are suggested to take long position if NIFTY sustains above 6151, keeping in view 6222 is a resistance. BANKNIFTY if crossed 12860 may attract huge buying in banking stocks while below 12730 it may attract selling pressure. IT, FERTILIZER and CEMENTS STOCKS may trade positive while POWER, METALS and some PHARMA STOCKS may face selling.

EXPECTED BULLISH STOCKS

RCF
NFL
GESHIP
SCI
TORNTPOWER
GLENMARK
AIAENG
BPCL
PNB
EXIDE
HEROHONDA
TATASTEEL
BHUSHANSTEEL
MPHASIS ITC
WIPRO
ACC
AMBUJACEM

EXPECTED BEARISH STOCKS

RELIANCE
RELINFRA
SINTEX
IBREALEST
INDUSINDBANK
M&M
UNITECH
APOLLOTYRE
LICHSGFIN
IDEA
CIPLA
DRREDDY
BHARTIARTL
DLF
ABIRLANUVO

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.

DIC India Ltd has achieved its target of Rs. 340
GEI Industrial Systems Ltd has achieved its target of Rs. 170
Dena Bank has achieved its target of Rs. 108
Visaka Industries has achieved its target of Rs. 180
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

Essar Shipping Ports & Logistics is aiming to boost its revenue from its port operation to as much as three times its 2011 fiscal year forecast of $173 million within next three years.The growth would be driven by higher capacity of its ports as well as utilisation of the infrastructure,

ICICI Bank and HDFC Bank plan to sell their 50 per cent stake in state-owned Hindustan Petroleum Corp Ltd's oil exploration firm, Prize Petroleum Co Ltd to a strategic investor, a company official said today.