Daily Indian Stock Market Outlook : FairWealth Securities

Daily-indian-stockHaving firm global cues Indian market traded with good gains. Banking, Infrastructure and Capital Goods appeared as major gainers. The Sensex closed at 18506, up 205 points from its previous close, and Nifty closed at 5546, up 64 points.

The CNX Midcap index was up 1.1% and the BSE Smallcap index was up 0.9%. The market breadth was positive with advances at 845 against declines of 450 on the NSE. The top Nifty gainers were IDFC, Suzlon, HDFC Bank and HDFC and major losers included HCL Tech, GAIL, Wipro and Reliance Power. THE FIIs were net sellers with investment worth Rs 37.99cr (prov. cash market fig)

Market Outlook
IN the next session, NIFTY if sustained above 5556 it may test 200 DMA 5635; beyond this 5669 might be the major hurdle in further up move. However, in the lower side 5481 and 5460 might act as strong support level. Intraday traders should be cautious of selling pressure at higher levels while applying the strategy of buying at dips. Metals and Banking stocks may show further up move while IT and Auto may appear weak.

Expected Bullish Stocks

Tataglobal
STFC
Dabur
Jisljaleqs
Suzlon
UCO Bank
Centurytex
IDFC
Bhartiartl
IOB
INDIANB
Jswsteel
Educomp
Ambujacem
Neyvelilig
M&M Fin
Tatasteel
Thermax

Expected Bearish Stocks

Unitech
Indiabulls
Wipro
Hindcopper
HCLTECH
IOC
Dbreality
Gail
HUL
Auropharma
HDIL
Gmrinfra
Jaicorp
ONGC
RPower
Petronet
Exide
IBrealest