5434 may act as strong support level for NiftyNifty crossed the 5500 mark and sustained above it for the first time since February 5,2008. Strong global cues led Indian indices to close strong; SENSEX closed at 18454, up 197 points and Nifty at 5540, up 61 points from the previous close. CNX MIDCAP index was up 1% and BSE SMALLCAP index was up 0.8%. The market breadth was positive with advances at 801 against declines of 483 on the NSE. BANKING, METALS and FMCG attracted good buying while REALITY appeared weak. Top gainers included ACC, ICICIBANK, HDFC, JAIPRA, JINDALSTEL and AMBUJACEM. Top losers are listed as ONGC, TATAPOWER, TATAMOTORS, WIPRO, BHARTIARTL, UNITECH and RCOM.

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. 5434 may act as strong support level. BANKING STOCKS, HEALTH CARE and METALS may attract more buying while AUTO, IT and OIL-GAS may face selling pressure.

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.

Usha Martin Education & Solutions has announced the launch of Usha Martin People Search (UMPS) which will offer innovative recruitment solutions to the industry and at the same time facilitate placements of students of Usha Martin Academy.

ABC India has secured four orders worth Rs. 114 crore for logistics for infrastructure and industrial projects. Besides the new orders, the company continues to execute prestigious contracts in logistics for infrastructure projects such as Alstom Projects India to deliver hydropower equipment to NHPC's 2000-MW Subansiri Project in Arunachal Pradesh and for BEML to deliver metro coaches to Delhi Metro. ABC India's total order book in project logistics currently stands at Rs. 165 crore.

Silverline Animation has announced that it has acquired a fully operational animation studio in Chennai. The studio is required to deliver the committed services work.

MIC Electronics has secured 17 different orders collectively worth Rs 18.63 crore from the Indian Railways. Of these 17 projects, most prominent include provision of a video train information display system for Eastern Railway and of Electronic Train Indication Board for Northern Railway worth Rs 2.78 crore and Rs 2.54 crore respectively.

The above mentioned ideologies are based on the research done at Fairwealth research department. Fairwealth securities (P) 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.