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Aurobindo, Sun Pharma Likely To End Positive Today

1. Bull market or bear market today?

Nifty is expected to maintain its consolidation pattern, given the weak macroeconomic situation prevalent in domestic as well as in the global economy. Nifty50 is likely to trade in a range of 11100 to 10850 in the short term.

2. Stocks likely to be in the limelight today?

In the short term, banking stocks like YES Bank and ICICI Bank could be negative while Aurobindo and Sun Pharma are likely to be positive.

3. Sectors likely to impact the market today?

Concerns are mounting for the banking sector due to high valuation and the issue of non-performing assets. Pharma sector as value buying.

On account of subdued earning performance in the first quarter, we expect consolidation to continue in the near term due to the downgrade in earnings forecasts. However, transmission of the rate cuts and effective measures by the government to stimulate the economy will limit the downside risk of the market in the medium term. – DNA India

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