Daily Indian Stock Market Outlook : FairWealth Securities

Indian-market

Positive global cues helped Indian market to attract good buying, Indices closed with moderate gains. Realty and Auto attracted major buying. Sensex closed at 17988, up 149 points and Nifty at 5413, up 48 points from the previous close. CNX Midcap index was up 0.8% and BSE Smallcap index was up 0.5%. S&P CNX Defty closed at 4171. 
The market breadth was positive with advances at 807 against declines of 488 on the NSE. Top gainers are listed as Maruti, Dlf, Bhartiartl, Jpassociate, Cipla and Ambujacem while Top losers included ICICI Bank, TCS, JSPL, HDFC Bank, Suzlon and Powergrid. FIIs were net buyers with the tune of Rs236.29 cr (prov. cash market fig).
Market Outlook
Nifty is expected to trade in the range 5350-5463. If sustained below the given range it may test 5323 and 5308 level. However, 5510 and 5531 may be considered as another resistance level. Bank Nifty is again expected to trade in the range 10660-10860. Still, 10550 may act as a crucial support level. 10990 might be another resistance level. Pharma and Realty are expected to show strength while selected heavy weights from IT and Banking may face selling pressure.
Expected Bullish Stocks
STFC
M&M
EDUCOMP
OPTOCIRCUI
TATACOMM
HDFC
MPHASIS
BHARTIARTL
IBREALEST
DLF
RENUKA
INDIANB
LUPIN
BAJAJHIND
MRPL
PANTALOONR
ZEEL
GSPL
Expected Bearish Stocks
SUNTV
NALCO
IOC
DBREALTY
PETRONET
IOB
UNIONBANK
JSWSTEEL
JSWENERGY
TVSMOTOR
TCS
ABIRLANUVO
COLPAL
MCDOWEL-N
BAJAJ-AUTO
SUZLON
APIL
TATAGLOBAL