Indian indices traded flat, but NIFTY managed to hold 5600 level. IT, PHARMA and CEMENTS stocks attracted major buying, while CAPITAL GOODS and FMCG faced selling pressure. SENSEX closed at 18666, up 21 points and Nifty at 5607, up 3 points from the previous close. CNX MIDCAP index was up 0.2% and BSE SMALLCAP index was up 0.6 %. The market breadth was positive with advances at 706 against declines of 575 on the NSE. Top gainers included BHARTIARTL, ACC, SBIN, HUL, STER, SUNPHARMA and IDEA. Top losers are listed as RELINFRA, ITC, HDFCBANK, ICICIBANK, TATAMOTORS, AXISBANK, CAIRN and RELCAPITAL.

Next Day Trading Session:

In the next session NIFTY is expected to trade with the support 5570, if sustained above 5625 it may test 5700. Banking stocks might play important role in case it attains bullish mode. Traders are suggested to buy at dips as long as NIFTY holds 5570. IT and PHARMA may stay strong while REAL-ESTATE, FMCG and CAPITAL GOODS may face selling.

EXPECTED BULLISH STOCKS

IDEA
BHARTIARTL
TATACOMM
NOIDATOLL
SBIN
SUNPHARMA
HCTECH
WIPRO
MPHASIS
ONGC
KRBL
BOMBAYDYEING
OILINDIA
EDUCOMP
ACC
INDIACEM
GRASIM LT

EXPECTED BEARISH STOCKS

HEROHONDA
HUL
BPCL
HPCL
RELCAPITAL
DRREDDY
INDIAINFO
BEML
AXISBANK
PANTALOONR
FINANTECH
CAIRN
RELINFRA
JSWSTEEL
SESAGOA

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

Suven Life Sciences has announced today that a product patent was granted in Australia and in Mexico for one of their new chemical entity (NCE) for the treatment of disorders associated with neurodegenerative diseases and these patents are valid until 2023 and 2025 respectively.

Asahi Infrastructure & Projects has received a contract worth Rs 29.50 crore for National Highways infrastructure for NH 7 and NH 17.

Bharat Heavy Electricals is signing a joint venture agreement with Governement of Kerala on 08 September 2010 for forming a joint venture company to acquire the Kasargod unit of KEL which manufactures alternators for railway applications and other industrial applications.