Indian market traded strong on the last day of the year's trading. Except IT-sector almost all sectoral indices closed in green. The Sensex closed at 20509, up 120 points from its previous close, and Nifty shut shop at 6134, up 32 points. The CNX Midcap index was up 1.2% and the BSE Smallcap index was also up 1.2%. The market breadth was positive with advances at 951 against declines of 343 on the NSE. The top Nifty gainers were RCom, Bajaj Auto, Reliance Infra and JP Associates and prime losers included Jindal Steel, Dr Reddy's, Sterlite Industries and NTPC. The FIIs were net buyers with investment worth Rs 531.33 Cr (prov. cash market fig)

In the next session, NIFTY is expected to face a strong resistance at 6150. If nifty failed to sustain above 6150 it may come down to test 6050. Traders are suggested to stay long only if NIFTY sustains above 6150. Banking and Pharma stocks may appear strong while cements and oil-gas may appear weak.

Investors with a horizon of 6-12 months can consider following scrips for their investment. These companies have potential to give igher returns than index over a long term.

Pratibha Industries has secured contract for the construction of 10 multi-storied residential towers at Gurgaon, from Pioneer Urban Land and Infrastructure. The value of the contract is Rs 144 crore. The project involves civil, structural and finishing work for construction of 10 multi-storied towers of 1.8 million sq ft.

The Electrical & Gulf Projects Operating Company (E&GP OC), a unit of Larsen & Toubro's construction division, bagged omestic and international projects worth Rs 2,503 crore in the third quarter of 2010.

JSW Energy has commissioned the second 300 MW unit of a 1200 MW power project at Jaigad in Ratnagiri in Maharashtra tate. The firm also expects to commission the remaining two units of 300 MW each in the current financial year.

India's fiscal deficit from April to November was Rs 1.86 lakh crore ($41.6 billion), or 48.9 per cent of the full-year target. Net tax receipts were Rs 2.96 lakh crore and total expenditure was Rs 6.90 lakh crore during the first eight months of the current financial year that began in April.

Disclaimer: The above mentioned ideologies are based on the research done at Fairwealth research department. Fairwealth securities Ltd will not be responsible for any kind of losses incurred by any part either directly or indirectly based on our research results, though we have presented to the best of our knowledge.