Banking, auto, defence likely to trade with positive bias

1. Bull market or bear market today?

Bull market is likely to continue as the overall setup looks positive for the short term at least till 11850-11900 levels. The support is pegged at 11585 levels.

2. Stocks likely to be in limelight today?

Adani Ent, Adani Porta, HeroMoto Corp, Larsen & Toubro, SBI are looking good whereas Aurobindo Pharma and Tech Mahindra are looking weak.

3. Sectors likely to impact market today?

Banking, auto, defence are likely to trade with positive bias whereas pharma and IT will react negatively.

4. Your mid-term view?

Markets are trading within a range of 11900-11450 and wherever this range gets broken the next 450 points move will come and the probability of an upward breakout is high.

5. What drove markets on Wednesday?

Banking only was holding up markets in the positive territory.

Jay Anand Thakkar, CMT - assistant vice president - equity research, Anand Rathi Shares and Stock Brokers