Indian market attracted good buying at lower levels, almost all sectors except it closed in green. The Sensex closed at 17728, up 265 points from its previous close, and Nifty closed at 5310, up 84 points. The CNX Midcap index was up 2.2% and the BSE Smallcap index was up 2.9%. The market breadth was positive with advances at 1093 against declines of 222 on the NSE. The top Nifty gainers were IDFC, JP Associates, Reliance Infra and PNB and prime losers included Hindalco, GAIL, Tata Power and HUL. The FIIs were net sellers with sales worth Rs 537.71 Cr

Market Outlook

In the next session, Nifty may continue the pull-back, still 5370 and 5424 may act as strong resistance zone for nifty. However, 5270-80 may act as a good support and 5150 would be a strong support. Traders are suggested to buy at dips expecting a pull back as long as NIFTY sustains 5150 level. Banking stocks may show major buying interest along with Realty while Telecom and IT may stay weak.

Expected Bullish Stocks

CESC
GVKPIL
HDIL
IDFC
SINTEX
JETAIRWAYS
MUNDRAPORT
ICICIBANK
AXISBANK
HDFC
HDFCBANK
UNIONBANK
FEDERALBANK
KTKBANK
RELINFRA
RELIANCE
PANTALOONR
VIJAYABANK

Expected Bearish Stocks

NALCO
TATAPOWER
MPHASIS
RENUKA
BHARTIARTL
RCOM
GAIL
AMBUJACEM
SAIL
SCI
GESHIP
IDEA
BPCL
PATNI
INFOSYSTCH
BHEL
RECLTD
EXIDE