Lupin, Glenmark, RIL likely to be in limelight today

1. Bull market or bear market (today)

Bull market as the index has taken a good support in the last trading session and it has confirmed higher tops and higher bottoms. The short-term target comes at 11680 whereas support is pegged at 11560

2. Stocks likely to be in limelight

Lupin, Glenmark, Apollo Hospitals, Bajaj Finserv, Bajaj Finance, Reliance and Axis Bank likely to attract buying interest

3. Sectors likely to impact market

Pharma, banking and financials look good and some bounce back is expected in auto and auto ancillary

4. Your mid-term view?

Now, the base in the medium-term has shifted from 11400 to 11500 levels. The Nifty has reversed from the gap area. It seems to have completed a three wave declining structure, hence the medium term bottom seems to be in place for the target of 11900

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