IndiGo, SpiceJet likely to be in focus today

1. Bull market or bear market today?

We expect Nifty spot to test the support level of 11600 today. A fall in global markets may test this downside level. Overall, we can expect a rangebound movement in the market.

2. Stocks likely to be in the limelight today?

Shares of HDFC AMC fell over 6% intra-day. We can expect the stock to be in limelight for tomorrow as well.

3. Sectors likely to impact market today?

Shares of aviation companies will be in focus with InterGlobe Aviation, the operator of IndiGo, and SpiceJet as they have recently gained market share, according to the May aviation data.

4. Your mid-term view?

The Budget could be a game - changer, which could see the strongest ever mandate for the government, we could see consumption and rural income supplement give a boost to a dull economic performance. The other positive would be a good onset of delayed monsoon, which we think will be much more widespread in the second half of July onward.

5. What drove the markets on Tuesday?

Benchmark indices ended the volatile session marginally higher and snapped four-day losing streak, driven by select banks and IT stocks.INTRO: Quick 5

Siddharth Sedani, vice-president - equity advisory, Anand Rathi Shares and Stock Brokers