M&M, Bharat Forge, HDFC Bank likely to be in focus today

1. Bull market or bear market?

Bull market likely to continue as the index has managed to close above the downtrend line resistance for the second consecutive day. Nifty is likely to inch towards 11795 levels in the short term. The short term support is pegged at 11607.

2. Stocks likely to be in limelight today?

Motherson Sumi, Bharat Forge, HDFC Bank, M&M, Ashok Leyland, SAIL, McDowell, TCS and TVS Motors are likely to do well.

3. Sectors likely to impact market today?

Auto, IT, Banking and Metals may do well

4. Your mid-term view?

For the medium-term, the range for Nifty has been 11500 – 11700. The breakout from this range will get the index to 11900 levels. So, the medium term support is 11500.

5. What drove markets on Monday?

HDFC Bank, TCS, Kotak Bank, Tata Motors and Tata Steel were among the top gainers who drove the markets

Jay Anand Thakkar, CMT-assistant VP, Anand Rathi