The Indian markets are likely to remain rangebound in the coming fortnight. The markets seem to lack much upside above the level of 5,550 on the Nifty. It has support at the 5,450 level.
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Brokerage firm Angel Broking feels the current fiscal will be a tough year for the cement sector. In an interview with CNBCTV18's Latha Venkatesh and Anuj Singhal, Rupesh Sankhe, Cement Analyst, Angel Broking said excess supply is going to hurt cement players badly in FY11.
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Markets are in no mood to change its current position, believes Rajan Malik of Anand Rathi Financial Services. Nifty will continue to face tough resistance at 55505600 and can go down to 5,3505,400 on the downside and 5,5505,600 on the upside. He says there is no evidence of any marketmoving trigger in the periphery.
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CNBCTV18's Udayan Mukherjee caught up with Dharmesh Mehta, HeadBroking of ENAM Securities at the sidelines of their FII conference in London to find out the overall sentiment among investors.
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There is no reason to get apprehensive about the future just yet, believes Anand Tandon, director (equities) at Brics Securities. Talking to CNBCTV18, he said the markets will not correct to the extent of 2008 levels. In fact, markets should move up a little if global cues exhibit stability.
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Technical analyst Ashwani Gujral is bullish on Godrej Properties, Texmaco, Exide Industries, SKS Micro and Dhampur Sugar. He advises traders to buy into these stocks.
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The central point remains that the quicker the US stock market falls from here, the quicker the Fed will commence the next wave of quantitative easing, says Chris Wood of CLSA.
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Widening volatility spreads between ChinaIndia and USIndia indicate that investors are too sanguine about India's prospects, says Clive McDonnell of BNP Paribas.
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In an interview with CNBCTV18, Rahul Shah, MF Global says, even if there is a correction in the market, it is not going to be steep.
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In an interview with CNBCTV18, Shailesh Kanani, Research Analyst, Angel Broking and Naveen Jain of Indiabulls Securities, speak about the infrastructure sector and give their outlook going forward.
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With the Indian bourses displaying a robust rally, experts believe that the uptrend will continue. "Historically, the markets dont make lows in the month of September," CK Narayan of Sharyans Resources says adding that the Nifty may swing another 100250 points in the next six to eight sessions.
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We are overweight energy, industrials, materials telecom and underweight healthcare, utilities, consumer discretionary, financials technology, says Ridham Desai of Morgan Stanley.
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Moderating global growth implies soft commodity prices and sustained easy monetary policies, both crucial for India, says Bharat Iyer of JPMorgan.
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The Nifty continued to remain under pressure trading close to 5350a key support level. All sectoral indices slipped were in red led by Reliance Industries.
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We are overweight on agrochemicals, cement infrastructure, says Suresh Mahadevan of UBS.
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