It has been an okay day for the markets

It has been an okay day for the market, no great excitement but the Nifty has been able to hold on to its 50-point gain as we speak hovering around that 5,250 mark so one small step at a time. Sensex too has not dipped into the red and the midcaps have done okay with more than 1% gain.

It has been stock specific today and the market is busy with the business of getting over to the next series with the Budget of course on Friday.

Q: More or less alright?

A: Yes, not a bad day of trade at all. I think the good thing about trade for the last few sessions is that we are not having bad closings. So whatever we do in the course of the day at least the closings are not bad and that tells you that the bulls are trying to probably hold the market up in a positive kind of groove and are successfully managing over the last many sessions. I do not think that is a bad thing to happen. If we close above 5,250 today again the traders will say one small step has been crossed and the next sight will be set at 5,350-5,400.

So I think we are okay in the market there is no panic of course there is no great excitement as we can see volumes are low not too many stocks are moving and even on the midcap side of the market I think it has become quite stock specific. So individual stocks are seeing some amount of accumulation but broadly there is no great momentum or trend but that is fine and I think that is not what people are expecting in any case. So I do not think today it has been a bad day of trade and if we can close around this level of 5,250 it will be fine.