Banking, Financial, Metal sector likely to trade positive today

1. Bull market or bear market?

The bull market as the index continues to form higher tops and higher bottoms on the hourly charts. The index has not closed in the negative territory on the daily charts and until that doesn't happen the overall trend remains positive. The short-term target comes to 11590 whereas the support is pegged at 11370.

2. Stocks likely to be in limelight today?

Jubilant Foods, Pidilite, JSW Steel, SAIL, HDFC Bank, HDFC, Sun TV and BEML are likely to trade with a positive bias.

3. Sectors likely to impact market today?

Banking and Financials, Metals are likely to trade with positive bias whereas IT may witness some further selling pressure.

4. Your mid-term view?

The Index has provided a breakout above 11200 levels after a long time, hence the support on the lower side is 11200 and till those levels aren't broken the target on the upside comes to 11680 levels.

5. What drove markets on Monday?

Reliance, private sector banks were major contributors on the upside whereas Auto and IT sectors contributed to the downside.

Jay Anand Thakkar, CMT -assistant vice president-equity research, Anand Rathi