Indian market had a gap-up opening but selling pressure at higher levels led indices to shed most of their gains, finally closed marginally positive. Cements and Auto faced major selling pressure while Realty and Oil-Gas traded with good gains. The Sensex closed at 18090, up 68 points from its previous close, and Nifty shut shop at 5432, up 14 points. The CNX Midcap index was down 0.3% and the BSE Smallcap index was up 0.1%. The market breadth was positive with advances at 683 against declines of 618 on the NSE. The top Nifty gainers were Tata Motors, RIL, HCL Tech and TCS and prime losers included Hero Honda, BHEL, NTPC and Bajaj Auto. The FIIs were net sellers with sales worth Rs 81.73 Cr

Market Outlook

In the next session, NIFTY is expected to take support around 5386-5396. However, breaching of 5348 may cause heavy selling pressure up to 5265-85. Nifty has a strong resistance around 5489 and 5532 level. Traders are suggested to sell at rise keeping in view the support and resistance levels. Banking heavy-weights may attract buying at lower levels if NIFTY holds5350, while Auto and capital goods may face selling pressure.

Expected Bullish Stocks

JISLJALEQS
DLF
RECLTD
DISHTV
FORTIS
RENUKA
GODREJIND
FINANTECH
RIL
ADANIENT
TATAMOT
HUL
HINDZINC
WIPRO
SCI
CESC
INDHOTEL
ACC

Expected Bearish Stocks

HEROHONDA
GLENMARK
TORNTPOWER
HAVELLS
BHEL
NTPC
IRB
BAJAJ-AUTO
FEDBANK
MARUTI
M&M
TATACHEM
LICHSGFIN
CANBK
TITAN
MUNDRAPORT
MPHASIS
SBIN