1 vote
SP Tulsian of sptulsian.com said traders would be looking for two triggers or news for this June series. "One would be monsoons and second advance tax figures. Probably, the markets should remain positive on expectations of better monsoons and advance tax numbers in the first half or first week of June."
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1 vote
Markets are unable to adjust to rising crude prices and as a result global investors have turned extremely cautious. The Indian market is still relatively expensive and may underperform in the nearterm, says Agrawal.
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1 vote
Rajat K Bose of rajatkbose.com feels the market would open at 4900 as the Asian markets cues were positive. He said that the rally would be range bound between 4925 to 4950. He added the market may see a 4820 low in the short term and the markets are likely to retest the March lows.
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1 vote
According to Mehraboon Irani of Centrum Broking the market outlook is uncertain with a negative bias. The immediate trigger for the market is what the government does on the petroleum product price front and maybe what the RBI will do to control inflation, which is already becoming a major concern area.
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1 vote
Ramesh Damani, Member, BSE, said the markets are likely to retest January lows again. "We doesn't see any great value bargains in the market currently. The Sensex is likely to challenge the bottom of January again. There are macroeconomic concerns on the inflation and rupee front. Q2 results are likely be worse than expectations."
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1 vote
Sylph Technologies and KGN Industries both relisted at nominal values but spiralled up absurdly, with no fundamentals to justify their upward move. Deena Mehta, Former VP, BSE said said relistings can be monitored using mock circuit filters of exchanges. There is a need for more transparency for relisting of stocks, she said.
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1 vote
PN Vijay, Portfolio Manger said that India is feeling the full impact of high crude prices and it does not even have a rupee to cushion that effect. He said that the market would remain range bound unless there is some correction in oil, inflation or IIP numbers.
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1 vote
Ajay Loganadan, Head Private Banking Investment Advisory, HSBC expects the markets to remain rangebound in the nearterm or even longer. he said that then the US slowdown, the inflation and the soring oil prices are bound to weigh the market down.
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1 vote
Sushil Kedia, Head Institutional Equities of KA Securities said that the Nifty has been weak since the begining of the day. He believes that should the Nifty test levels below 5090 it may bounce back to the 5170 level in the next 15 to 20 minutes. He sees 4,970 to be a very tight support area for the next 34 days.
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1 vote
Sudarshan Sukhani of Technical Trends said yesterday session was very profitable for day traders but very disappointing for the bulls. "The intermediate rally will break if the Nifty closes below 4,950." According to Sukhani, it is not a time for investors to buy on dips.
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1 vote
Girish Nadkarni of Avendus Advisors and Mitesh Thakkar of Edelweiss believe markets will trade with an upward bias in the following few days. Nadkarni said the market is likely to be rangebound with a positive bias in the nearterm. While Thakkar believes one can expect to see selling after bouncebacks.
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1 vote
Technical Analyst Ashwani Gujral said, "In 2006 markets bounced back from 2,600 up to 3,200 and then gave back 50% of that and consolidated around 2,900." Since we are also looking for a time wise correction, this up and down move should be expected and we could head up to 4,900 before we reverse.
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1 vote
Neppolian Pillai of Modern Shares and Stock Brokers feels that the Nifty would be in a 51355175 range. The bottom formation is still on, he told CNBCTV18. If one has bought at lower levels, he feels that this rally needs to be sold into; it's not a time to buy, he added.
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1 vote
Technical Analyst Ashwani Gujral said mostly people are bearish about markets. He expects market to momentarily cross the range, but it won't go below 5,050 levels, he said.
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1 vote
The market is likely to remain choppy in the nearterm. The upside looks capped as there is no major positive trigger. The Sensex is seen between 14,50017,500 for the mediumterm, says Tandon.
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