According to SP Tulsian of sptulsian.com, the correction in the market has started, mainly led by infra and realty names.
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The next support to look at, Devangshu Datta, consulting editor of Outlook believes, is about 5225 or so.
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The support for the Nifty is at 5325 and resistance at 5400-5435, says Technical Analyst, Prakash Gaba.
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Sudarshan Sukhani, s2analytics.com says, he has closed all long trades yesterday. However, he says, the trade is to go long. I am waiting for an opportunity to go long, he adds.
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Given bank niftys heavy weightage on the nifty and no confirmed sign of a reaction, long positions should continue to be held with a trailing stop below 5327, a close below which would be the first sign of weakness, says Technical Analyst, Mohit Gaba.
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Sushil Kedia, president at ATMA spoke to CNBC-TV18 about what he expects of the market going ahead.
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With the ECB poised to release funds again on Feb 28 via long term refinancing operations (LTRO), it is likely that a new wave of liquidity will enter Asia in March which will carry through to April, says Mohammed Apabhai of Citigroup.
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Citi has downgraded HUL to sell from neutral with a target of Rs 345. After the sharp outperformance over the second half of 2011, there is little rationale to be constructive as the business will probably face
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The Indian market has been strong over the last couple of days. High beta and complete underdogs sectors have begun to move now. PN Vijay, Portfolio Manager says, one should start looking at the realty stocks again. One should look at some strong balance sheets as an investment candidate, he advises.
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Indian market is rallying with full might gaining 15% alone in 2012. Experts are hopeful that this rally will continue for some more time. So, till it lasts here are some of the best bets of Sanjeev Prasad, ED and co-head of Kotak Institutional Equities.
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According to SP Tulsian of sptulsian.com, the market is likely to start is correction process by Tuesday or Wednesday.
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New bull markets are started by favourable liquidity conditions and attractive valuations, says Ridham Desai of Morgan Stanley.
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Goldman Sachs has added Bharti Airtel to its conviction list with a target of Rs 475. Any potential license cancellation of new entrants would reduce competition.
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Tulsian finds this stock quite interesting, though the stock had a run-up in the last week; he says one can take a price target of Rs 500 in next six months.
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Sandeep J Shah, chief executive officer of Sampriti Capital spoke to CNBC-TV18 about where he thinks this market is headed. He says that consumer demand and policy action from the government are what will be the deciding factors for market direction.
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