Indian market took a negative start but in the final hour of the session it recovered losses and closed with moderate gains. IT-Sector attracted major buying while Autostood weak. Sensex closed at 18438, up 226 points from its previous close, and Nifty shut shop at 5518, up 59 points.

The CNX Midcap index was up 0.7% and the BSE Smallcap index was down 0.1%. The market breadth was negative with advances at 586 against declines of 713 on the NSE. The top Nifty gainers were TCS, Wipro, Sterlite Industries and JP Associates and prime losers included Tata Motors, Hero Honda, Maruti Suzuki and PNb. The FIIs were net sellers with sales worth Rs 245.42cr (prov. cash market fig)

Market Outlook
In the next session, NIFTY is expected to face resistance around 5600, while 5402-5408 may act as strong support. If sustained above 5600 NIFTY may attract fresh buying up to 5669. Traders are suggested to be cautious of selling pressure if NIFTY fails to sustain above 5600. Banking and IT may stay strong while Auto and Realty may stay weak.

Expected Bullish Stocks

MPHASIS
TCS
APOLLOTYRE
TITAN
WELCORP
DIVISLAB
NFL
JSWSTEEL
TATACHEM
WIPRO
RCF
ORCHIDCHEM
TECHM
CANBK
ACC
EDUCOMP
RELINFRA
NMDC

Expected Bearish Stocks

KFA
BGRENERGY
GESHIP
JETAIRWAYS
THERNAX
PFC
OPTOCIRCUI
FEDERALBANK
PUNJLLOYD
TATAMOTORS
NAGARCONST
DISHTV
DBREALITY
HEROHONDA
IVRCLINFRA
JAICORP
PANTALOONR
UNIONBANK