Indian market had a flat day with Healthcare, IT and FMCG traded strong while Banking, Auto and Capital Goods traded under selling pressure. The Sensex closed at 20025, down 3 points from its previous close, and Nifty shut shop at 5996, down 2 points. The CNX Midcap index was down 0.2% and the BSE Smallcap index was up 0.4%. The market breadth was negative with advances at 634 against declines of 645 on the NSE. The top Nifty gainers were Suzlon Energy, Ranbaxy, HDFC Bank and Tata Power and prime losers included Tata Motors, Axis Bank, ICICI Bank and Ambuja Cements.

Market Outlook

In the next session, again NIFTY may get support around 5957-5988 while 6040-6070 may act as a resistance zone. However sustaining below 5988 may be an alert signal for bulls. Traders are suggested to remain cautious for long position below 5988 NIFTY. IT and HEALTHCARE may again appear strong. Banking stocks may face selling at higher levels.

Expected Bullish Stocks

YESBANK
PNB
KOTAKBANK
TATAELEXI
JETAIRWAYS
GUJNRECOKE
RAYMOND
KFA
GICHSGFIN
HDFCBANK
ESSAROIL
RANBAXY
TCS
INFOSYSTCH
PATNI
HINDOIL
WIPRO
CIPLA

Expected Bearish Stocks

SAIL
SINTEX
RECLTD
RELIANCE
SBIN
ICICIBANK
IBREALEST
DENABANK
HPCL
BPCL
IOC
BANKINDIA
TATACHEM
MUNGRAPORT
TATAMOTORS
IDBI
AMTEK
MCDOWEL-N