SRF, ACC, UltraTech, TCS likely to be in focus today

Bull market or bear market?

The index has formed a double top pattern on the daily charts and the Breakdown from the same will be confirmed below 10534 levels. Our view is negative in the short term for the target of 10534 levels

Stocks likely to be in limelight today?

SRF, LIC Housing Finance, ACC, UltraTech Cement and IndusInd Bank look weak whereas Tech Mahindra, TCS and Wipro look strong.

Sectors likely to impact market today?

Banking and Financial looks weak whereas IT looks strong

Your mid-term view?

Below 10534 the Index will slide till 10300 i.e. its next swing support and if those levels also break then 10000 is the next target

What drove markets on Monday?

Banking and Financial, Cement, Auto and Pharma on the lower side whereas IT on the upside.

Jay Anand Thakkar, CMT- assistant VP- equity research, Anand Rathi