ITC, SBI, YES Bank, Tata Motors likely to be in focus today

1. Bull market or bear market today?

After Monday's euphoria, the market may continue to trade with an upward bias. Nifty may test its 52-week high of 11856.15 and bulls will try to push it above 11900. On the downside, support exists at 11740 levels.

2. Stocks likely to be in limelight today?

ITC, SBI, YES Bank, Bajaj Finance, Tata Motors, and Maruti Suzuki will be on our radar given the market up move continues.

3. Sectors likely to impact market today?

Banking, energy, infra and FMCG sectors may continue to lead the market. Midcap sector is also expected to rise sharply following Nifty and Sensex

4. Your mid-term view?

Markets currently are driven by positive sentiments of the election outcome and liquidity, although we have seen foreign institutional investors selling in this month, domestic institutional investors have been net buyers so far. In the midterm, markets will be affected by global factors and may correct 5-10% from these levels on adverse US-China trade agreement, which will be an excellent opportunity for making new investments in equities. The domestic manufacturing sector is expected to pull back in the mid term.

5. What drove the markets yesterday?

The unanimous verdict from different exit polls that the BJP led government will continue for another term triggered the rally and helped the benchmark indices end at a record closing high.

Abhijeet Bajpai, co-founder & CEO, Avighna Trades