Indian market opened with good gains but surrendered most of the gains in the final hour of the session and closed just with marginal gains. Metals appeared as major gainers while IT and AUTO stood weak. IT and Auto remained under pressure throughout the day. The Sensex closed at 20561, up 52 points from its previous close, and Nifty closed at
6157, up 23 points. The CNX Midcap index was up 0.7% and the BSE Smallcap index was up 1.8%. The market breadth was positive with advances at 1010 against declines of 300 on the NSE. Top gainers included TATASTEEL, STER, RELINFRA, JAIPRA, HDFCBANK, SAIL and SESAGOA; Top losers are listed as NTPC, WIPRO, ACC, TCS, SUZLON and BAJAJ-AUTO.

Market Outlook

In the next session NIFTY may face high resistance around 6180-6190, sustaining above this level may attract more buying while 6060-6080 may act as strong support at zone. Intraday traders are suggested to be bullish only if NIFTY sustains above 6190. Fertilizerschemical and metals may attract buying while banking and capital goods along with auto sector may face selling pressure.

Expected Bullish Stocks

RCF
NFL
BHUSANSTEEL
JINDALSTEL
STER
TATASTEEL
JSWSTEEL
JINDALSWH
GODREJIND
NAGARCONS
MTNL
JAIPRA
PUNJLLOYD
YESBANK
ISPAT
ALOK
CENTURYTEX
JETAIRWAYS

Expected Bearish Stocks

ACC
GRASIM
DRREDDY
SUNHARMA
BANKBARODA
M&M
TATAMOTORS
BAJAJ-AUTO
UNIPHOS
BEL
RECLTD
MCDOWEL
ABB
LT
BHEL
DLF
HDIL
UNITECH