Weak global cues and High crude prices affected market negatively. Banking and Metals faced major selling pressure while Realty sector maintained some buying interest. The Sensex closed at 18327, down 141 points from its previous close, and Nifty closed at 5494, down 36 points. The CNX Midcap index was down 0.3% and the BSE Smallcap index was down 0.2%. S&P CNX Defty closed at 4219. The market breadth was negative with advances at 516 against declines of 751 on the NSE. The top Nifty gainers were Reliance Capital, RCom, ONGC and DLF and prime losers included Tata Power, Tata Steel, Sesa Goa and Dr Reddy. FIIs were net sellers with the tune of Rs
97.19 cr.

Market Outlook - Nifty is trading in the range 5463-5539 from the last three sessions. Also, Nifty failed to sustain above 5550 and faced selling pressure at rise. In the next session again we expect Nifty to trade in the same range with selling pressure at higher levels. However, if 5463 level is breached NIFTY may test 5440 and 5408 level. Bank Nifty may trade in the range 10760-10970. IF 10760 breached it may test 10650 and 10550. Traders are suggested to follow the strategy of selling at rise. Banking and metals may face selling pressure at higher levels while Capital Goods and Oil Gas may stay strong comparatively.

Expected Bullish Stocks

APIL
MTNL
CROMGREAV
HCC
DLF
HDIL
AUROPHARMA
ABB
BHEL
APOLLOTYRE
RELCAPITAL
RELINFRA
RCOM
ONGC
ASHOKLEYLAND
UNITECG
ACC
OIL

Expected Bearish Stocks

ZEEL
PFC
RECLTD
IOB
TATASTEEL
EXIDE
NFL
DRREDDY
RANBAXY
JATAIRWAYS
JINDALSAW
LT
SESAGOA
BHUSANSTL
ICICIBANK
HDFCBANK
LICHSGFIN
HINDZINC