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Bull market or bear market?
Bull market on Wednesday as the Nifty has formed a bullish engulfing candlestick pattern. The index can touch 11150 and support on lower side is at 10930

Stocks likely to be in limelight
Stocks on the long side are Aurobindo Pharma, Sun Pharma, Hindustan Unilever and Tech Mahindra

Sectors likely to impact the market
IT, pharma and FMCG are seeing long built up, whereas banking and financials are seeing short covering

Your mid-term view?
Till the 200DMA is held Nifty will bounce in the short term till 11150-11200 levels. Later, the bears will again be back into action for the target of 10700 levels

What drove markets on Monday?
IT, pharma, banking and the breadth was quite decent which indicates that there was good participation on the buying side

By, Jay Anand Thakkar, CMT – Assistant vice president – equity research, Anand Rathi Shares and Stock Brokers

Source: DNA Money