Cement, metal, banking to impact market today

1. Bull market or a bear market today?

Its overall Bull market with immediate support of 11550 zones but upside is getting restricted with hurdles at 11761 then 11888 zones.

2. Which stocks are likely to be in the limelight?

Grasim, Ramco Cement, ICICI Bank, RBL Bank, Hero MotoCorp, L&T and Divis Labs will be in the limelight today.

3. Which sectors will impact the market?

Cement (positive), metal (negative), banking (stock specific).

4. What's your mid-term view?

Range bound bias with buy on decline strategy with the medium term support of 11420-11333 zones for an upside move towards 12000 zones.

5.  What drove markets on Thursday?

Index closed negative and corrected by around 400 points from its higher zones after testing its new lifetime high of 12041 marks. Profit booking was seen in most of the sectors including banking, NBFC, metal and auto stocks.

Chandan Taparia, Equity Derivatives & Technicals analyst, Motilal Oswal Financial Services Ltd