Indian market had a range bound session with profit booking in METALS, CEMENTS, IT, TELECOM and FINANCE. REALITY appeared strong. SENSEX closed at 18401, down 53 points and Nifty at 5530, down 9 points from the previous close. CNX MIDCAP index was up 0.1% and BSE SMALLCAP index was also up 0.1%. The market breadth was negative with advances at 575 against declines of 695 on the NSE. Top gainers included DLF, LT, CIPLA, RIL, HEROHONDA, RANBAXY and BPCL. Top losers are listed as TATAMOTORS, ICICIBANK, WIPRO, HUL, ITC and AMBUJACEM.

Next Day Trading Session:

In the next session 5555 may act as strong resistance for NIFTY traders are suggested to take fresh long position only if it sustains above 5555. NIFTY may face correction up to 5434-5455. HEALTH CARE, REALITY and OIL-GAS may attract more buying while BANKING and METALS may face selling pressure.

EXPECTED BULLISH STOCKS

LT
BPCL
CIPLA
RANBAXY
FINANTECH
JETAIRWAYS
DLF
BALRAMCHINI
UNITECH
MLL
RENUKA
HPCL
TRIVENI
IDFC
SIEMENS
BHUSANSTL
HEROHONDA
TULIP

EXPECTED BEARISH STOCKS

NALCO
TATACHEM
TATASTEEL
YESBANK
EDUCOMP
CHENNPETRO
GRASIM
HCC
JAICORP
ICICIBANK
PTC
WIPRO
ALBK
PRAJIND
INFOSYSTCH

Fundamental Picks

Investors who have a horizon of 6-12 months can buy the following companies. The companies have potential to give higher returns than index over a long term.

Dena Bank has achieved its target of Rs. 108
Visaka Industries has achieved its target of Rs. 180
Man Industries has achieved its target of Rs. 90
Aarti drugs has achieved its target of Rs 135
Indoco Remedies has achieved its target of Rs 465, call given at Rs. 388
Riddhi Siddhi Gluco Biols has achieved its target of 258, call given at 216
Ess Dee Aluminium has achieved its target of Rs 520
TNPL has achieved its target of Rs. 115

Corporate Highlights

Jindal Steel Bolivia, a subsidiary of Jindal Steel & Power, has announced that Government of Republic of Bolivia has provided additional 3000 acres of land to it to start work on its USD 2.1 billion steel and power plant in Bolivia. Jindal Steel Bolivia has resumed activities to develop iron ore deposits in El Mutun iron ore mine and steel project in Bolivia.

Prism Informatics has announced that the company bagged another two SAP projects in SriLanka, one in SAP Implementation for Silicone Coatings Pvt Ltd and the other MTO Project for Textured Jersy Lanka Pvt Ltd. This is the third SAP Implementation project in a row in SriLanka, the previous project was with Lankem Ceylon Ltd.

Tulip Telecom has recently been named as the Network Bandwidth Service Provider (NBSP) for deploying data connectivity services in the state of Uttarakhand under the Restructured Accelerated Power Development Reforms Program (R-APDRP) scheme. The company has been selected for execution, supply, installation and commissioning of MPLS VPN, Internet and other connectivity services to all the project towns under the R-APDRP scheme floated by Uttrakhand Power Corporation (UPCL) of Uttrakhand worth Rs. 12.2 crore. The project is required to be delivered over a period of 12 to 18 months and maintained over a period of 3 years by Tulip.

Usha Martin Education and Solutions has launched its new campus at Dhanbad under its brand 'Usha Martin Academy'. The Academy provides an enriched learning environment with emphasis on intellectual innovation and critical thinking where the faculties motivate students to purse academic and corporate goals with industry- readiness focus.