Indian market faced profit booking surrounded by weak global cues. SENSEX closed at 17486, down 155 points and Nifty at 5225, down 49 points from the previous close. CNX MIDCAP index was down 0.72% and BSE SMALLCAP index was down 0.56%. Top gainers included BHEL, SBIN, HDFCBANK, IDFC, and ICICIBANK, while top losers are listed as HINDALCO, ACC, SUNPHARMA, GRASIM, TCS, GAIL, ACC and UNITECH.

NIFTY finally closed below the support level 5230; we expect some more weakness in indices. In the next session NIFTY FUT may trade in the range 5135-5252. Traders may note that below 5135 nifty may face heavy selling pressure. POWER SECTOR and METALS may attract buying in next session.

EXPECTED BULLISH STOCKS:

NTPC, RELINFRA, RELCAPITAL, AXISBANK, KOTAKBANK, SBIN, BHEL, DCB, UCOBANK, DENABANK, ALBK, YESBANK, UNIONBANK, BIOCON, CHAMBLFERT, NFL, RCF.

EXPECTED BEARISH STOCKS:

TITAN, JINDALSTEL, TCS, WIPRO, MTNL, IBREALEST, DLF, HDIL, UNITECH, RANBAXY, SUNPHARMA, LUPIN, HUL, ITC, MARUTI.

NIFTY AND BANK NIFTY FUTURE:

SELL NIFTY BELOW 5207 SL 5243 TGT 4282-4255-4235

BANK NIFTY FUT HAS A SUPPORT AT 9017 AND RES 9170

SELL BANK NIFTY FUT BELOW 9107 SL 9240 TGT 9080-9052-9017