Despite the fact that the market is struggling, Sudarshan Sukhani of s2analytics.com believes the short term trend in the market remains upwards.
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Sudarshan Sukhani of s2analytics.com believes the Nifty is all set to break its 100-point trading range and move above the 5300 level.
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Udayan Mukherjee, managing editor, CNBC-TV18, says that the markets woke up slowly. He points out to that the key factors that gave wind to the marketâs sails were developments in the global market.
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The market structure on a daily time frame looks weak and hence even if they cut 25 basis point we might even see a down move after a rally, says Technical Analyst, Mohit Gaba
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Sudarshan Sukhani of S2analytics told CNBC-TV18 that any sharp rally after 11 a.m should be taken as an opportunity to buy puts.
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"It would be wise to not trade on a day when newsflow is heavy," said Sudarshan Sukhani of S2analytics.com.
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Participation levels are extremely poor and open interest levels in the market have come down quite dramatically, says N Jayakumar, president, Prime Securities.
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Anu Jain, senior vice president, IIFL Private Wealth Management believes that this is not the right time to start cherry picking stocks from the IT sector. The CNX-IT index witnessed a very strong breakdown on Friday as Infosys Q4 earnings disappointed the street. She foresees another 3-4% downfall from the current levels for
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Anil Manghnani, Modern Shares Stock Brokers in an interview to CNBC-TV18 said, that Nifty has bounced off from crucial trading support of 5,190, but it is still stuck in the trading range of 5,200-5,300.
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Herald Van Der Linde of HSBC is overweight Taiwan, China and India while underweight ASEAN. Their preferred sectors are IT and consumer discretionary.
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Shares of gas utilities plummeted on Tuesday after the Petroleum and Natural Gas Regulatory Board directed Indraprastha Gas to cut tariffs for certain types of gas in New Delhi in a bid to reduce prices for consumers.
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Given the negative global picture, Jai Bala, chief market technician of cashthechaos.com says, the Indian market will start much stronger decline and the December lows will go away over the medium-term.
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Sudarshan Sukhani of s2analytics.com says, the trade continues to be on the short side. According to him, there would be a gap down opening.
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Stocks come off their worst week of the new year with investors wondering if the selloff is the start of something bigger, or just a pause.
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SP Tulsian of sptulsian.com, advises caution on the 10% rise in Pantaloon. The analyst was very positive on JP Associates, Hindalco and Cairn. Though he refused to generalise on midcap stocks, Tulsian was keen on Century Enka, Garden Silk and Apar Industries.
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