Weak global cues caused a gap down opening in Indian market which was a sharp decline. Buying at lower levels also failed to shed the losses, except Oil-Gas almost all sectoral indices closed in red. Realty appeared as major loser. The Sensex closed at 18167, down 271 points from its previous close, and Nifty shut shop at 5449, down 81 points.

The CNX Midcap index was down 1.6% and the BSE Smallcap index was down 1.6%. The market breadth was negative with advances at 216 against declines of 1090 on the NSE. The top Nifty gainers were RIL, Siemens, Sun Pharma and Reliance Capital and prime losers included Sesa Goa, Reliance Power, JP Associates and Maruti. FIIs were net buyers with the tune of Rs 148.28 cr (prov. cash market fig).

Market Outlook Nifty is expected to trade in the range 5373-5537 in the next session. Sustaining below this range it may test 5340-5310 levels. However, 5571 is another resistance levels. Traders are suggested to sell at rise keeping in view the resistance levels. Banking and Auto may face selling at higher levels while Metals and Oil-Gas may appear comparatively stronger. Banknifty may trade in the range 10660-10830. 10550 may act as a crucial support breaching of which may cause banknifty to test 10210 level. 10960 and 11150 may be the other resistance levels.

Expected Bullish Stocks

CENTRALBANK
JISLJALEQS
VIDEOCON
CASTROL
BHUSANSTEEL
OBC
APOLLOTYRE
TATASTEEL
UNIONBVANK
BEL
TITAN
SUNTV
SIEMENS
RELCAPITAL
GTLINFRA
RCOM
PIRHEALTH
GODREJCON

Expected Bearish Stocks

AREVAT&D
RPOWER
EDUCOMP
PANTALOONR
DBREALTY
UNIPHOS
SESAGOA
IBREALEST
DRREDY
STFC
HINDOILEXP
RANBAXY
RECLTD
HDIL
WIPRO
MPHASIS
DLF
VIJAYBANK