It was bad week for the Indian equity markets , but there was a glimmer of hope seen towards the end of the week. After two days of downfall, the markets saw smart recovery. However, for the week, the markets closed in the red. The Nifty and Sensex ended down 5.7% and 4.5% respectively.
Experts’ views on the road ahead for the markets:
Andrew Holland of Ambit Capital:
If global markets do take a hasty retreat than what we have seen more measured falls recently so I think the risk to that is higher than the more recent fall that we have been seeing in global markets. I could easily make a case for 12,000 but if things are more measured then 13,000-13,500 on the Sensex can be a short term base.
I think we will be buying on dips partly because with the government having the mandate it has, has changed our views in terms of the longer-term growth potential for India.
Atul Suri, Trader :
What is most important for the markets right now is for this bull market to sustain. I would not be bothered till we breach 4,100. If you look at these current moves, the post-circuit scenario when we went to 4,200-4,300, we retraced to 4,100 and then we got into a newer top, which is 4,600-4,700 on the Nifty. So essentially what has happened is that we have made a higher top at 4,100. So for this bull market to continue, I think 4,100 will hold and the market may exhaust a little bit, retrace a little bit from these levels.
Sunil Singhania, Reliance MF:
In the near-term there can always be a short-term correction but the way things are progressing and the way the scenario is emerging both fundamentally as well as technically, we don’t see a major reaction even in the short term. But from our perspective we are looking at India from a longer-term perspective and the way things are actually moving and even the government focus on infrastructure, increasing the gross domestic product (GDP), I think we are headed for some decent days ahead for India.
Trading ideas on specific stocks:
Sudarshan Sukhani, Technical Analyst:
One stock which I have been referring to is Hindalco. It has come through a very good correction, at this point there is a buying opportunity with a target of somewhere around Rs 105 or Rs 110. Now if the investment does not work out, which means there is a correction that continues downwards, you either get out with a Nifty stop loss of 4,200 or you add more to the stock, somewhere around 3,800 for the Nifty or Rs 70 for the share.
Read more....... http://www.moneycontrol.com
Experts’ views on the road ahead for the markets:
Andrew Holland of Ambit Capital:
If global markets do take a hasty retreat than what we have seen more measured falls recently so I think the risk to that is higher than the more recent fall that we have been seeing in global markets. I could easily make a case for 12,000 but if things are more measured then 13,000-13,500 on the Sensex can be a short term base.
I think we will be buying on dips partly because with the government having the mandate it has, has changed our views in terms of the longer-term growth potential for India.
Atul Suri, Trader :
What is most important for the markets right now is for this bull market to sustain. I would not be bothered till we breach 4,100. If you look at these current moves, the post-circuit scenario when we went to 4,200-4,300, we retraced to 4,100 and then we got into a newer top, which is 4,600-4,700 on the Nifty. So essentially what has happened is that we have made a higher top at 4,100. So for this bull market to continue, I think 4,100 will hold and the market may exhaust a little bit, retrace a little bit from these levels.
Sunil Singhania, Reliance MF:
In the near-term there can always be a short-term correction but the way things are progressing and the way the scenario is emerging both fundamentally as well as technically, we don’t see a major reaction even in the short term. But from our perspective we are looking at India from a longer-term perspective and the way things are actually moving and even the government focus on infrastructure, increasing the gross domestic product (GDP), I think we are headed for some decent days ahead for India.
Trading ideas on specific stocks:
Sudarshan Sukhani, Technical Analyst:
One stock which I have been referring to is Hindalco. It has come through a very good correction, at this point there is a buying opportunity with a target of somewhere around Rs 105 or Rs 110. Now if the investment does not work out, which means there is a correction that continues downwards, you either get out with a Nifty stop loss of 4,200 or you add more to the stock, somewhere around 3,800 for the Nifty or Rs 70 for the share.
Read more....... http://www.moneycontrol.com
