After trading in a range in the first half session, Indian market faced selling pressure in the later half session with Realty, Metals and FMCG as major losers. ADAG group appeared as major loser. IT and Banks performed comparatively better. The Sensex closed at 17592, down 182 points from its previous close, and Nifty shut shop at 5253, down 59 points.

The CNX Midcap index was down 2.4% and the BSE Smallcap index was down 4.3%. The market breadth was negative with advances at 131 against declines of 1195 on the NSE. The top Nifty gainers were Kotak Mahindra, Mahindra & Mahindra, Sun Pharma and HDFC and prime losers included Reliance Infra, Reliance Capital, Reliance Communications and JP Associates. The FIIs were net sellers with sales worth Rs 609 Cr (prov. cash market fig)

Market Outlook
In the next session, NIFTY may face strong resistance around 5370-5390, while 5275-90 may act as minor support level. However, traders are suggested to follow the strategy of selling at rise for NIFTY support level 5232. Banking and Capital Goods may face major selling pressure while FMCG and Metals may show strength comparatively.

Expected Bullish Stocks

M&M
GAIL
INFOSYSTCH
FORTIS
COLPAL
CADILAHC
HDFC
ZEEL
OBC
SUNPHARMA
TATAPOWER
ICICIBANK
DISHTV
ASIANPAINTA
HDFCBANK
GODREJCON
MARICO
DLF

Expected Bearish Stocks

RELINFRA
EKC
CENTURYTEX
RELCAPITAL
ABAN
MTNL
RCOM
IVRCLINFRA
JISLJALEQS
RPOWER
LITL
JPASSOCIATE
JAICORP
PANTALOONR
BGRENERGY
PUNJLLOYD
GMRINFRA
AXISBANK