GAIL, Zee, CG Power and Biocon likely to be in limelight today

1. Bull market or bear market?

After three days of correction, the market resumed its uptrend and this momentum is likely to continue today as well, although some consolidation cannot be ruled out in the index due to F&O expiry. The options data is suggesting that Nifty is likely to trade above 11700 mark in tomorrow's trading session.

2. Stocks likely to be in limelight?

Gail, CG Power, Zee Entertainment Enterprises Ltd and Biocon are likely to be in a limelight.

3. Sectors likely to impact market?

PSU banks could do well as most of them are trading near their important support marks. NBFCs stocks will also remain in focus as Indiabulls Housing Finance will announce its Q4 results.

4. Your mid-term view?

The market is in bullish momentum where Nifty is preparing to cross 12000 mark in the coming days while the downside is protected in 11700-11550 zone.

5. What drove the markets today?

Due to the correction in the past few days, Nifty and Bank Nifty were both trading near their respective important support marks. There was a lot of interest in the market to buy at lower levels which also triggered a short covering rally in the market. Strong results by UltraTech Cement had also improved the market

Amit Gupta, Co-Founder & CEO, Trading Bells