Ignoring strong European cues, Indian indices traded flat and closed in red with marginal loses. SENSEX closed at 18221, down 16 points and Nifty at 5479, down 6 points from the previous close. CNX MIDCAP index was up 0.7% and BSE SMALLCAP index was up 0.8%. The market breadth was positive with advances at 760 against declines of 517 on the NSE. Top gainers included HEROHONDA, RELINFRA, BHARTIARTL, ONGC, HUL, UNITECH and KOTAKBANK. Top losers are listed as JINDALSTEL, JAIPRA, HINDALCO, STER, RIL, SUZLON and BPCL.

Next Day Trading Session:

In the next session NIFTY may trade in the range 5470-5520. Breaching the levels either side may decide the intraday trend. Traders are suggested to take profit out of stock specific action. BANKING STOCKS may appear bullish along with the METALS. IT and CAPITAL GOODS may face selling pressure.

EXPECTED BULLISH STOCKS

GODREJCP
BEML
CIPLA
RCF
NFL
CHAMBLFERT
CESC
INDIAINFO
ALBK
BHARATFORGE
BHARTIARTL
UNITEDBNK
TATACHEM
TATAMOTORS
ESCORTS
KTKBANK
TECHM
VIDEOCON

EXPECTED BEARISH STOCKS

HPCL
BPCL
BHEL
JETAIRWAYS
SUZLON
JSWSTEEL
JINDALSTEL
SESAGOA
PATNI
INDIACEM
JAIPRA
SCI
GESHIP
IOC
LUPIN

Fundamental Picks

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.

Dena Bank has achieved its target of Rs. 108
Visaka Industries has achieved its target of Rs. 180
Man Industries has achieved its target of Rs. 90
Aarti drugs has achieved its target of Rs 135
Indoco Remedies has achieved its target of Rs 465, call given at Rs. 388
Riddhi Siddhi Gluco Biols has achieved its target of 258, call given at 216
Ess Dee Aluminium has achieved its target of Rs 520
TNPL has achieved its target of Rs. 115

Corporate Highlights

Tatanet, a division of Nelco announced a strategic partnership with Compuware Corporation to provide end-to-end Application Performance Management (APM) services to its customers. This partnership will enable Tatanet to offer quality APM services to its customers utilizing Compuware's market-leading Vantage and Gomez solutions for optimizing application performance across the enterprise and the Internet.

NTPC has announced that an MOU has been signed on 30 August 2010 between NTPC Ltd and Bangladesh Power Development Board (BPDB) on mutual co-operation between the parties for development of power sector in Bangladesh. NTPC may set up a 1320 MW coal based power plant in Bangladesh in joint venture with BPDB, subject to techno economic viability, for mitigating the power shortage of Bangladesh. NTPC will also provide training & development to human resources of BPDB and enhancement of productivity and efficiency of their existing power stations.

BOC India has commissioned its 221 tonnes per day merchant Air Separation Unit at Selaqui, Dehradun. The company made this announcement during the trading hours today, 03 September 2010.