Anand Rathi Securities in its market outlook says that Sensex and Nifty have exhibited a narrow bullish candlestick that has a small real body indicating that the markets are hesitating at higher levels.One may use the level of 3450 for Nifty and 11,875 for Sensex as the stop loss levels for long positions for the time being. Breach of these levels would amount to a move below the previous day's low levels and this in turn may trigger further profit booking.On the resistance front, the Sensex continues to face resistance between 12,000-12,050 level and the Nifty at around 3485-3490 levels. A decisive move above this resistance zone will have bullish implications and may result in the market gaining upward momentum.In the punter's zone they have a 'BUY' on India Cements, Adlabs & Tamilnadu Newsprint. In the technical call section, they have a 'BUY' on Birla Corp, Glennmark & Navneet Publications.
