Indian market traded in a narrow range where Metals, Auto and Capital Goods traded weak. In quiet global cues, Sensex closed below 20000 Sensex closed at 19982, down 32 points and Nifty at 5980, down 4 points from the previous close. CNX Midcap index was down 0.3% and BSE Smallcap index was down 0.1%. The market breadth was negative with advances at 558 against declines of 734 on the NSE. Top Nifty gainers were Sesa Goa, Sun Pharma and NTPC while losers included SAIL, Hindalco and Tata Steel. The FIIs were net sellers with sales worth Rs -143.1cr

Market Outlook

In the next session, NIFTY may take support around 5934. If sustained below 5934, NIFTY may test 5870 and 5800 levels. However, 6030-6050 may act as a strong resistance zone in NIFTY. Again, intraday traders are suggested to stay long as long as NIFTY holds 5930. PHARMA and FMCG may attract buying while METALS, OIL-GAS and REAL-ESTATE may face selling pressure.

Expected Bullish Stocks

Sunpharma
DIVISLAB
RENUKA
ABB
SINTEX
ORCHID
HAVELLS
STER
PIPAVAVSHIP
AREVAT&D
OBC
TATACHEM
IFCI
JINDALSTEL
JETAIRWAYS
PRAJIND
VIJAYABANK
OFSS

Expected Bearish Stocks

SAIL
JSWSTEEL
TATASTEEL
ASHOKLEYLAND
IRB
DLF
HDIL
IBREALEST
HPCL
BPCL
ANDHRABANK
PUNJLLOYD
APOLLOTYRE
OPTOCIRCUI
MUNDRAPORT
GMRINFRA
ACC
ULTRACEMO