Indian market opened with an upside gap but shed almost all gains and closed flat. Banking, IT and Auto appeared as gainers while capital goods appeared as major loser. The Sensex closed at 18486, down 3 points from its previous close, and Nifty closed at 5338, up 2 points, S&P Defty closed at 4264, 5 points up. The CNX Midcap index was up 0.3% and the BSE Smallcap index was down 0.2%. The market breadth was negative with advances at 626 against declines of 666 on the NSE. Top gainers are listed as Tatapower, Herohonda, Hdfc, Infosystch, Jspl, Bpcl, Rpower, and Bajaj-Auto. Top losers are listed as LT, Jaipra, Maruti, BHEL, TCS, Suzlon and Sail. FIIs were net buyers with the tune of Rs 585.52 cr.

Market Outlook

In the next session, NIFTY is expected to trade in the range 5481-5608. However, 5440 may act as major support level. 5624 and 5669 might be the other hurdles if NIFTY moves beyond the given range. Bank Nifty may trade in the range 10880-11150. Moving beyond the range Bank Nifty may test the levels 11280-11350, however traders should note that Bank Nifty if sustains below 10770 may face heavy selling pressure, so the levels might be considered as strong support level. Banking heavyweights and auto may show some more upside while Realty and cements may appear comparatively weak.

Expected Bullish Stocks

BAJAJFIN
RPOWER
AUROPHARMA
RELIANCE
OPTOCIRCUI
EIL
FEDERALBANK
STFC
PFC
RECLTD
APOLLOTYRE
IDEA
BHARTIARTL
TORNTPOWER
INDIANB
ZEEL
HPCL
IOC

Expected Bearish Stocks

WELCORP
IVRCLINFRA
CENTRALBANK
VOLTAS
HDIL
DLF
IBREALEST
SUZLON
GMRINFRA
CENTURYTEX
SAIL
NAGARCONST
ABIRLANUVO
AREVAT&D
NFL
BAJAJHIND
HINDCOPPER
DBREALTY