IT, banks and auto sectors showing some good strength

1. Bull market or bear market today?

A bullish engulfing pattern is seen which is a bullish reversal pattern. We expect a follow up buying towards 11900 - 11930.

2. Are any stocks likely to be in limelight today?

Auto, metals, pharma and IT

3. Sectors likely to be impacted today?

IT, banks and auto sectors are showing some good strength.

4. Your mid-term view?

It's a range-bound market with a bullish undertone. Lower levels will continue to see buying with an upside bias towards 12000 - 12100 in the short term to medium term.

5. What drove the markets on Thursday?

Improved breadth, which was not seen in the last couple of days, while at the same time derivatives numbers were also decisive, pointing to a trending period.

Mustafa Nadeem, CEO, Epic Research