Pre-market: Profit-taking may be round the corner

Following six straight days of gains for the Sensex, the index may pause for a while as short-term traders make a beeline to book profits. Overall, the sentiment has changed to bullish, which indicates buying support at lower levels.

On the upside, the index is likely to face resistance around 11,500-11,510-11,525 levels. On the downside, the index has support around 11,400-11,386-11,370 levels.

Market analyst Shah expects the Sensex to target 11,800 in the short-term. The index has a good support around 11,330.

His top trading picks for the day are IPCL, Reliance, Tata Motors, Siemens and Bank of Baroda. For investment purpose he recommends Tata Elxsi, BASF, Tulip IT and Celebrity Fashion.