IT and FMCG will continue to outperform, energy may decline

1. Bull market or bear market today?

Nifty will continue to move upwards near to 12,050 levels as it has withheld the support levels of 11,800 over the past week.

2. Stocks likely to be in limelight today?

Bharat Forge, Hindalco and HCL Tech to remain positive, while Divi's Labs and Godrej Industries would see some decline.

3. Sectors likely to impact market today?

IT and FMCG will continue to outperform, while energy would decline on the back of higher crude prices.

4. Your mid-term view?

We remain positive on markets until Nifty does not breach 11,800 on the downside, as breaking important support levels will warrant for further decline near to 11,550 levels.

5. What drove markets on Monday?

Nifty gained 52 points on the back of positive global cues and select buying in index heavy weights in IT and FMCG sectors that managed to pull the indices higher in the last one hour of trade. On the other hand, PSU banks and media sectors declined by 1.5% each.

Vikas Jain, senior research analyst, Reliance Securities