Weak Global Cues and Libyan crisis affected Indian market’s sentiments negatively. Indices traded under selling pressure throughout the day. Sensex closed at 18296, down 142 points and Nifty at 5469, down 49 points from the previous close. CNX Midcap index was down 1.2% and BSE Smallcap index was down 0.7%. The market breadth was negative with advances at 415 against declines of 885 on the NSE. Top Nifty gainers were RIL, Cairn India and RCom while losers included Ranbaxy, Suzlon Energy and Axis Bank.

Market Outlook

In the next session, NIFTY is expected to trade in the range 5408-5506. F&O expiry being ahead, market is expected to remain highly volatile. NIFTY if sustained below 5402, it may attract heavy selling pressure while above 5506 it may face further resistance at 5556 and 5600. IT and OIL-Gas may attract buying while Auto and Capital Goods may face selling.

Expected Bullish Stocks

JAICORP
CAIRN
HDIL
TITAN
RIL
EXIDE
INDUSIND
TECHM
PATNI
INFOSYSTCH
TCS
GODREJCP
TATAGLOBAL
SOBHA
GSPL
RENUKA
POWERGRID
RELCAPITAL

Expected Bearish Stocks

JETAIRWAYS
BPCL
HPCL
IOC
KFA
SPICEJET
DLF
UNITECH
IDEA
SUNTV
GESHIP
INDIAINFO
KOTAKBANK
BHEL
LT
TATASTEEL
BHUSANSTL
CUMMINSIND