Bajaj Finance, Sun Pharma, Amara Raja likely to gain today

Bull market or bear market? 

Markets have reversed in the short term. Last week was a positive weekly close after five weeks of consecutive negative close. In the short term, the index is likely to inch higher till 10700 as long as 10300 is held.

Stocks likely to be in the limelight today? 

Bajaj Finance, Sun Pharma, Amara Raja, Manappuram Finance and Wockhardt are expected to do well.

Sectors likely to impact the market? 

Banking, finance, pharma, auto are likely to do well, whereas cement, FMCG and IT are likely to trade with a negative bias.

Your mid-term view?

In  the medium term, the index is likely to break the previous swing low of 9951.90. Hence, this bounce is just a temporary bounce,  which can last till maximum 10700 levels.

What drove the markets on Monday?

FMCG, IT, pharma and Reliance.

Jay Anand Thakkar, assistant VP, Anand Rathi Shares