Indian market again faced heavy selling pressure due to weak domestic cues, Banking and IT stocks had major loses. Realty sector managed to close in green. The SENSEX closed at 19182, down 351 points from its previous close, and Nifty closed at 5751, down 111 points. The CNX MIDCAP index was down 0.6% and the BSE Smallcap index was also down 0.6%. The market breadth was negative with advances at 413 against declines of 898 on the NSE. The top Nifty gainers were Ambuja Cements, Tata Motors, ONGC and ACC and prime losers included Infosys, PNB, SBI and Bank. The FIIs were net sellers with sales worth Rs 249.77 Cr

Market Outlook

In the next session, NIFTY is expected to trade with high probability of breaching of 5690 important support level. In that case it may test 5555. Traders are suggested to avoid long positions below 5690 NIFTY Spot. Banking would participate in either side rally. Telecom and Fertilizer may appear comparatively stronger.

Expected Bullish Stocks

ORCHIDCHEM
RENUKA
TITAN
AXISBANK
HCLTECH
PNB
SUZLON
INDIABULLS
STER
IFCI
TATAMOTORS
HINDOIL
RCOM
ESSAROIL
OPTOCIRCUI
GRASIM
ABAN
TATASTEEL

Expected Bearish Stocks

IOC
TORNTPOWER
BAJAJ-AUTO
JETAIRWAYS
LT
CIPLA
BEL
ULTRATECH
THERMAX
MARUTI
BAJAJ-AUTO
GLENMARK
VOLTAS
Castrol
HINDPETRO
BANKINDIA
IVRCL
PIRHEALTH