Indian market traded in positive zone throughout the day with BANKING, AUTO and METALS attracting good buying while OILGAS appeared as loser. SENSEX closed at 20465, up 120 points from its previous close, and NIFTY closed at 6160, up 41 points. The CNX MIDCAP index was up 0.4% and the BSE SMALLCAP index was up 0.7%. The market breadth was positive with advances at 764 against declines of 534 on the NSE. The top Nifty gainers were STERLITE, TATA MOTORS, SUN PHARMA and KOTAK MAHINDRA and losers included RCOM, CIPLA, BPCL and RIL.

Next Day Trading Session:

In the next session NIFTY is expected to trade positive with support 6145.However, 6100 is a strong support while 6225 is expected to appear as a strong resistance. Traders are suggested to take long position at dips with 6100 as stop loss. BANKING STOCKS and METALS are expected to attract buying while OIL-GAS and IT 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.

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

Supreme Infrastructure India has been awarded two prestigious work orders worth Rs. 69 crore. The company has secured project for construction of dwelling units at Babina in Jhansi worth Rs 51 crore.

Jain Irrigation Systems has entered into an agreement to acquire controlling stake in Sleaford Quality Foods (SQFL), a UK based industrial food ingredients supplier. This will help food division of Jain Irrigation to have direct access to a large market with value added products.

Kemrock Industries and Exports and DSM Composite Resins AG, Switzerland have signed a Memorandum of Understanding (MoU) to form a joint venture (51:49) for manufacturing of unsaturated polyester and Vinyl ester specialty resins in India.