IndusInd Bank, Hindalco, Ashok Leyland to be in limelight today

1. Bull market or bear market today?

A temporary bounce can happen being in an oversold range while trend seems negative in the short-term, support is seen at 11,500 for Nifty50.

2. Stocks likely to be in limelight today?

IndusInd Bank, Hindalco and Ashok Leyland.

3. Sectors likely to impact market today?

Banks, metals and auto sectors are under scrutiny, given concern of asset quality, trade-war and slow economy.

4. Your mid-term view?

This consolidation may escalate further due to trade war and weak economy while institutional inflows are slowing down.

5. What drove markets on Monday?

Domestic market is caught in a bearish grip as investors are increasingly turning cautious led by a global trade war which has got murkier. Additionally, geopolitical tensions in Middle East triggered a sudden spurt in oil prices. Domestic market consolidation will be maintained till global events unfolds such as central bank and GST Council meet this week. Consolidation was broad-based with metals, auto, pharma and financials

Vinod Nair, head of research at Geojit Financial Services