Weak global cues from Asian and European market put selling pressure on Indian Indices. Metals and Reality stocks faced major sell off. SENSEX closed at 17137, down 248 points and NIFTY at 5148, down 74 points from the previous close. CNX MIDCAP index was down 1.3% and BSE SMALLCAP index was down 1.8%. The market breadth was negative with advances at 222 against declines of 1065 on the NSE. Top gainers included HDFC, HEROHONDA, HCLTECH, PNB and DIVISLAB. Top losers are listed as BALRAMCHINI, RNRL, JSWSTEEL, HINDALCO, PRAJIND, TATASTEEL, STER,
GRASIM, ACC, AMBUJACEM, and SAIL

Next Day Trading Session:

In the next session, 5200 and 5240 may act as strong resistance level for NIFTY while it may get support in the range 5092-5106. NIFTY trading below this level may attract heavy selling pressure. Traders are suggested to sell at gains as long as NIFTY is trading below 5240. PHARMACEUTICALS and OIL STOCKS may attract buying while METALS and REALITY may attract selling pressure at every gain.

Fundamental Picks

Investors having a horizon of 6-12 months can buy the following companies. The companies have a potential to give higher returns than index over a long term.
TNPL Indoco
Remedies Ltd
JK Paper Ltd
Ballarpur Industries Ltd
Aarti Drugs
Riddhi Siddhi Gluco Biols
Electrotherm (India)
EIL
Balkrishna Ltd.
McNally Bharat
Ess Dee Aluminium
Hyderabad Industries
Monnet Ispat
Biocon Alembic
Visaka Industries
Munjal Showa
Jindal Saw Ltd

Engineers India Ltd. has achieved its target of Rs 2400, call given at Rs 1610, so we suggest partial profit booking to our clients.
Visaka Industries has achieved its target of Rs. 180, call given at Rs.122
Banco Products has achieved target of Rs 110, call given at Rs 75.

Corporate Highlights

HCL Technologies Signs Five - Year, Strategic Engagement Agreement With MSD; One of the Largest Strategic Engagements in HCL History Will Help Facilitate MSD's Growth AcrossGlobal Markets; HCL to Add Jobs In North Carolina To Support Project."

Investment & Precision Castings Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 17, 2010 to July 26, 2010 (both days inclusive) for the purpose of Payment of Dividend & 35th Annual General Meeting (AGM) of the Company to be held on July 26, 2010

Tanla Solutions Ltd has informed BSE regarding a Press Release dated May 04, 2010 titled "Navteq announces Winners of 2010 Navteq Global LBS Challenge in India, sponsored by Tanla

Om Metals Infra projects Ltd bags the hydro mechanical work for Kalisindh Gravity Dam worth Rs. 206 crore

Teledata Technology Solutions Ltd has informed BSE regarding a Press Release titled "TTS Announces Total IT Solutions and launches pilot program at St. James Episcopal School, Houston, TX"

Geometric Ltd has informed BSE regarding a Press Release dated May 04, 2010 titled "Geometric to show CAMWorks 2010 at EASTEC"

Larsen & Toubro and Howden establish Joint Venture for Axial Fans and Air-Heaters business in India

Jaiprakash Associates Ltd has informed BSE that:
1. The Board of Directors of the Company have on May 03, 2010, co-opted Dr. J. N. Gupta, as an Independent Director of the Company w.e.f. May03, 2010.
2. The Company will consider and publish the audited accounts for the quarter year ended March 31, 2010 instead of
unaudited accounts.

Mahindra Satyam BPO honored as 'India's Most Customer Responsive BPO Company'

Diamond Power Infrastructure Ltd has informed BSE regarding a Press Release dated May 04, 2010 titled "Diamond

Power Infrastructure Ltd - Commencement of Production - Compounding Unit - 18,000 MT per annum