On Tuesday, the Nifty closed below 5,000 levels for the first time since January 18. Sandeep Shah, chief executive officer, Sampriti Capital cautions that Nifty may correct to 4,600-4,800 levels ahead if global and local cues deteriorate further.
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For the Indian market, local issues are getting compounded by the international woes, says Dilip Bhat, joint managing director, Prabhudas Lilladher. However, in the short-term, Bhat says, there is still a room for some upward moment.
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Sanjay Singh, analyst at Standard Chartered says, removal of ad valorem tax is a long-term positive for ITC.
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The Nifty has been trading weak over the last couple of sessions. According to VK Sharma, head private broking wealth management of HDFC Securities, the Nifty will get support in the region of 4,920.
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Opportunity cost is defined as the cost of an alternative that must be forgone in order to pursue a certain action. It's the benefits one could have received by taking the next best alternative action.
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On the Bank Nifty one can have a stop loss at 9760 for targets of 10060 to start with, says Technical Analyst, Mohit Gaba.
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Jonathan Garner of Morgan Stanley said their overall view on the emerging market space remained bullish. They see 18% upside to year-end target price of 1210.
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Samir Arora, fund manager at Helios Capital says deferral of the general anti-avoidance rules (GAAR) may lead to a rally in the near-term for Indian market.
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The market is clearly in a downward trend, says Siddharth Bhamre of Angel Broking. "We remain sceptical on the market," he asserts. He advises investors to form fresh short positions in the market around 5,150.
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It has been a top pick in the IT sector for the past two years, but now JP Morgan has downgraded Tata Consultancy Services to "neutral" from "overweight" on valuations.
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Although the Finance Minister (FM) has delayed General Anti-Avoidance Rule (GAAR) by one, Vikas Khemani of Edelweiss Securities feels that itself will not get FII flows into the market.
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Manpreet Gill, senior investment strategist, Standard Chartered has a neutral stance on Indian equities and believes that India is still fundamentally weak due to high inflation.
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On the Bank Nifty one can have a stop loss at 9760 for targets of 10060 to start with, says Technical Analyst, Mohit Gaba.
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Indian market is getting weak on dwindling interest of foreign investors due to economic uncertainty. The Nifty has already slipped below 5000 but experts feel that the pain will not end there. Most experts have a negative outlook on Indian market as there are indications of more weakness.
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As the Finance Bill opens for discussion in Parliament on Monday, investors pin hopes to get some clarity on the General Anti-Avoidance Rule (GAAR), which would help spur the equity market from the current gloom. The Parliament is likely to vote on the bill over the next two days.
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