Prestige Estate, Godfrey Philips likely to be in limelight today

Bull market or bear market

We should see yet another attempt to clear 11000, and break above the triangle pattern resistance, given the late bounce from the 10DMA. 

Stocks likely to be in limelight today

Prestige Estate, Kilitch drugs, Godfrey Philips and Federal Bank.

Sectors likely to impact market today

IT, realty, pharma and FMCG.

Your mid-term view?

Breakout past 11000 is imminent, but the breakout move thereof is likely to be limited to another 200 to 300 points, followed by consolidation.

What drove markets today?

Uncertainty on earnings growth visibility, Profit booking in stocks like TCS, HDFC Bank, HDFC, RIL, and continued weakness in metal and auto stocks led the decline.

Anand James, chief market strategist at Geojit Financial Services