Indian market traded with good gains with almost all sectors in green. Banking, Metals and FMCG attracted major buying interest. The Sensex closed at 20256, up 230 points from its previous close, and Nifty shut shop at 6060, up 64 points. The CNX Midcap index was up 0.7% and the BSE Smallcap index was up 1.1%. The market breadth was positive with advances at 869 against declines of 417 on the NSE. The top Nifty gainers were HUL, Bharti Airtel, Sterlite Industries and HDFC Bank and prime losers included Cipla, Sun Pharma, Suzlon and Wipro. The FIIs were net buyers with investment worth Rs 547.58 cr

Market Outlook

In the next session, Sensex if sustained above 20286 is likely to test 20530. NIFTY has a strong resistance around 6070, and next at 6101-20. Traders are suggested to remain cautious of long positions at resistance levels of NIFTY. However, 5982-6012 is a good support zone for NIFTY. Pharma, FMCG and IT may attract major buying while banking stocks may also play major role in upward rally. Auto, Cements and Realty may appear weak comparatively.

Expected Bullish Stocks

HDFC
BHUSANSTEEL
RECLTD
SUNPHARMA
JETAIRWAYS
GUJNRECOKE
AXISBANK
LICHSGFIN
TCS
MPHASIS
ESSAROIL
RANBAXY
BHARTIARTL
STER
OPTOCIRCUI
UNIPHOS
ZEEL
ABIRLANUVO

Expected Bearish Stocks

PFC
HDIL
IBREALEST
BEL
WELCORP
AREVAT&D
JSWENERGY
DENABANK
PETRONET
UNITECH
VOLTAS
GRASIM
ACC
AMBUJACEM
ULTRACEM
RCF
NFL
CHAMBLFERT