Indian indices faced heavy selling pressure in the final hour of the session and except IT-sector almost all sector closed in red. Reality appeared as a worst performer. The Sensex closed at 19318, down 141 points from its previous close, and Nifty closed at 5799, down 66 points. The CNX Midcap index was down 2.4% and the BSE Smallcap index was down 1.7%. The market breadth was negative with advances at 221 against declines of 1087 on the NSE. The top Nifty gainers were Infosys, TCS, ACC and Bajaj Auto and losers included Suzlon, PNB, RPower and SAIL.

Next Day Trading Session:

In the next session, today’s NIFTY low 5880 may act as support level. Sustaining below this level it may come down to test 5660. Traders are suggested to exit long positions below 5780 NIFTY level. Banking stocks along with Reality may face more selling while Auto and IT may attract buying at lower levels

EXPECTED BULLISH STOCKS

BHARTIARTL
TVSMOTOR
VIDEOIND
TORNTPOWER
JATAIRWAYS
DABUR
MPHASIS
GODRE
JIND
JISLJALEQS
SUNTV
LUPIN
CROMPTON
OPTOCIRCUI
IVRCLINFRA
OIL
BHARTIARTL
TVSMOTOR
VIDEOIND

EXPECTED BEARISH STOCKS

DLF
HDFC
LICHSGFIN
SBIN
PNB
BEML
CENTRALBANK
SCI
EDUCOMP
BANKBARODA
RCF
FINANTECH
CANBK
HDIL
TATACHEM

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
First Leasing Ltd has achieved its target of Rs. 92
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

State-owned power generator NTPC, Asian Development Bank (ADB) and Kyuden International Corporation (Kyushu) of Japan have signed a joint venture agreement to develop renewable power project in the country, reviving an old alliance that fell apart last year after the global financial meltdown. The joint venture will set up 500 mw of non-conventional power generation capacity in India over three years. It will also consider projects in neighboring countries.

GMR Male International Airport (GMIAL), a subsidiary of GMR Infrastructure, on Thursday said it has bagged a project to modernise, expand and operate Republic of Maldives's capital Male's International Airport. Earlier on June 24, the consortium led by GMR Infrastructure Ltd (GIL) with Malaysia Airports Holdings Berhad (MAHB), had won concession for the Male Airport for 25 years.