IT, auto, bank stocks likely to be in limelight today

1. Bull market or bear market today?

Bear market as the index has been making lower top - lower bottom with sustained selling pressure at every small bounce and resistances are gradually shifting lower.

2. Stocks likely to be in the limelight today?

Buying interest likely to be only in selective IT stocks while weakness in public sector units, metal, non-banking financial companies and auto stocks.

3. Sectors likely to impact market today?

IT, auto, metal and banking stocks.

4. Your mid-term view?

Till Nifty doesn’t surpass its immediate hurdle of 11350-11420 zones, any bounce could be sold in the market, while the next support comes at 11000 and then at 10888-10850 zones.

Chandan Taparia, technical & derivative analyst, MOFSL