Indian market traded in a small range, oscillated above and below the dotted line, finally closed flat. SENSEX closed at 16955, down 44 points and Nifty at 5080, down 7 points from the previous close. CNX MIDCAP index was up 0.80% and BSE SMALLCAP index was up 0.81%. Top gainers included RCOM, DLF, RELINFRA, SUNPHARMA, TATASTEEL, SUZLON, SAIL and UNITECH. Top losers are listed as HINDALCO, JAIPRA, MARUTI, ICICIBANK, INFOSYS, AXISBANK and CAIRN.

NEXT SESSION……..

In the next session NIFTY is expected to trade in the same volatile manner in a range as long as trading below 5107. Above this level it may gain momentum targeting 5037-5070. Above 17055 SENSEX may gain momentum targeting 17370-17467. STEEL and TELECOM STOCKS are expected to trade bullish, in the next session, while some banking stocks may face profit booking.

EXPECTED BULLISH STOCKS:

SAIL, JINDALSTEL, JSWSTEEL, SESAGOA, BHUSHANSTEEL, PNB, LUPIN, BHARTIARTL, RCOM, DENABANK, UCOBANK, HDFC, INDIAINFO, IBREALEST, HDIL, IOB, TATAMOTORS and TATASTEEL.

EXPECTED BEARISH STOCKS:

MARUTI, HEROHONDA, RANBAXY, ICICIBANK, BPCL, IOC, RELCAPITAL, ABB, STER, CAIRN, INFOSYSTCH, AXISBANK.

NIFTY AND BANK NIFTY FUTURE:

BUY NIFTY FUT ABOVE 5103 SL 5069 TGT 5137-5163-5199. BUY BANK NIFTY FUT ABOVE 9046 SL 8999 TGT 9095-9126-9189