Indian market faced heavy selling pressure after a positive start, where Realty and Auto appeared as Major loser. Also ADAG Group faced sharp decline. The Sensex closed at 18211, down 295 points from its previous close, and Nifty closed at 5458, down 87 points. The CNX Midcap index was down 1.7% and the BSE Smallcap index was down 2.3%. The market breadth was negative with advances at 236 against declines of 1075 on the NSE. The top Nifty gainers were HUL, Jindal Steel, Dr Reddy's and BHEL and prime losers included Reliance Capital, RCom, Reliance Infra and Reliance Power. The FIIs were net buyers with investment worth Rs 207.67cr

Market Outlook

In the next session, NIFTY may get support in the range 5402-5408 while 5506 may act as a resistance level. Breaching of the above support zone might cause NIFTY to test 5340. Traders are suggested to follow the strategy of selling at rise. Some heavyweights from Banking, Realty and Auto may participate in the downward journey while FMCG, Capital Goods and Metals may stay comparatively stronger.

Expected Bullish Stocks

Hindcopper
HUL
Tatachem
CESC
Pirhealth
DrReddy
Sunpharma
BHEL
Marico
BEL
Wipro
TCS
Siemens
Bhusanstl
Godrejcons
Nestle
Mcdowel-n
Nalco

Expected Bearish Stocks

Jisljaleqs
Relcapital
Relinfra
Dishtv
Jaicorp
RPower
IbRealest
DLF
DbRelaity
Ashokleyland
Tatamotors
Maruti
Tataglobal
Uniphos
Auropharma
MTNL
SCI
JpAssociate