New Delhi: With budget around the corner, analysts are expecting markets to open weak on Monday. While 10,300 is a short-term resistance, 9,970 is a very strong support on the downside. The upside to the market can well take it above 11,000 or may be 12,000 they feel.
Dipan Mehta, Member NSE
The upside to the market can well take it above 11,000 or may be 12,000
This is not a secular bull market as stocks are gaining and correcting on a selective basis. Unless there’s a major disaster or some serious geo-political tensions between the US and Iran the markets are not seen to be going below 9,800 levels. The upside to the market can well take it above 11,000 or may be 12,000.
The markets will open flat on Monday
The markets will open flat on Monday but action could be seen in selective sectors and stocks. Selectivity has been the major trend in February of 2006. While the markets traded in a range select stocks in the pharma sector did very well.
Markets will be at these levels only as we are not seeing any pre-budget build up
Generally markets will be at these levels only as we are not seeing any pre-budget build up. Although sentiments remain positive and small investors remain hopeful that the budget will be good it is not reflecting as a major build up in the markets.
Budget will drive sentiments next week
Budget announcements and reactions to the budget will drive sentiments next week. After that we will be into a very important earnings season, which will lead to a reality check.
Suraj Saraogi, Keynote Capitals
Above 10,300 expect 300-400 point rally
If the market crosses 10,300 on the back of good budget euphoria, we might see another 300-400 point rally after that.
Speculative, rumour-based news that will drive the sentiments
On the eve of the budget the media will flash a lot of speculative, rumour-based news that will drive the sentiments going into trade on Monday. We saw a flash of that in Friday’s choppy trade. On Monday markets might take some clue from the media and bounce back.
PAGE_BREAK
The market has been bullish on the expectation of a good budget
The market has been bullish on the expectation of a good budget and personally, I think, Mr. Chidambaram will not let the market down. There might be some tinkering but a major shock to the markets would be missing in this year’s budget.
FII inflows will continue to remain positive
FII inflows will continue to remain positive but the flooding of IPO issues after the budget might spoil the sentiments a bit. A lot of companies are trying to time the market after they have gauged the market’s reaction to the budget. In March advance tax payment will act as bit of a dampener.
Rahul Mohinder, Technical analyst
Watch out for 10,300 and 9,970
The next short term resistance to the Sensex is at 10,300 levels. However, if the markets breach 9,970, we can step into an intermediate downtrend.
Sandeep Shenoy, Pioneer Intermediaries
We are overvalued by 5-10%
This correction what one is witnessing will continue. We are overvalued by 5-10%. Liquidity and budget are the factors, which will influence the market.
Budget jitters likely to continue
The market will open with a weak bias on Monday
Budget jitters originated today and are likely to continue. We are running at a very high valuation. The budget and post and pre-budget the market direction is quite different, so people will expect some kind of a swing to come.
Comments
0 comment