Positive global news flow caused good buying in Indian market, indices traded in positive zone throughout the day. The Sensex closed at 18439, up 216 points from its previous close, and Nifty closed at 5520, up 57 points. The CNX Midcap index was up 1% and the BSE Smallcap index was up 0.8%.S&P Defty closed at 4246.

The market breadth was positive with advances at 872 against declines of 417 on the NSE. The top Nifty gainers were Bharti Airtel, Tata Motors, Suzlon and ONGC and prime losers included Cairn, Hero Honda, GAIL and Reliance Power. FIIs were net buyers with the tune of Rs 237.07 cr (prov. cash market fig).

Market Outlook
In the next session, Nifty is expected trade in the range 5440-5540. If sustained above this level it may test 5608 and 5624. However, Nifty is expected to find support at 5440, If sustains below this level it may test 5408-5380. Bank Nifty may find good support around 10780 if sustained above 11000; it may attract further buying up to 11280. IT and Pharma stocks are expected to remain bullish while Auto, Power and Telecom may face selling pressure.

Expected Bullish Stocks

TECHM
OBC
AUROPHARMA
TATACOFFEE
INDIANB
SUNPHARMA
TATAGLOBAL
RCF
RANBAXY
APOLLOTYRE
NFL
POLARIS
JETAIRWAYS
SINTEX
TCS
CANBK
INDUSIND
INFOSYSTCH

Expected Bearish Stocks

DBREALTY
BAJAJ-AUTO
ITC
PFC
TATAPOWER
GAIL
DABUR
RCOM
JSWENERGY
RECLTD
TORNTPOWER
RPOWER
HEROHONDA
STFC
M&M
MARUTI
LUPIN
SAIL