Moneycontrol
Oct 09, 2017 05:30 PM IST | Source: CNBC-TV18

One can maintain longs till Nifty holds 9950; see another narrow-range day: Experts

It is likely that we could spend another day in this 9950-10050 band before fresh triggers come in, which could be earnings, says Ashwani Gujral.

It was a lackluster day for the market with the Sensex closing up only 32.67 points at 31846.89, while the Nifty ending the day higher only by 8.00 points at 9987.70.

Mitessh Thakkar of mitesshthakkar.come says there is nothing much on the Nifty but Bank Nifty looks promising, where the set up looks better. So on Nifty one can maintain a positive bias and one can trade with a long bias. Meanwhile, the Bank Nifty as long as it can remain above 24150, there is good chance of it going to 24500 and give Nifty that extra push to get past 10000 properly and heading towards 10,050 levels.

Ashwani Gujral of ashwnaigujral.com says there are no takeaways from the market closing levels as such because it has remained sort of unchanged from its earlier close. It is likely that we could spend another day in this 9950-10050 band before fresh triggers come in, which could be earnings. So, we could have another narrow range type of day, where individual stocks could perform.

However, as long as 9950 holds on Nifty, one can maintain long positions.

SP Tulsian of sptulsian.com, Mayuresh Joshi of Angel Broking Ltd and Neeraj Deewan of Quantum Securities also shared their views on specific stocks.

For the full conversation, watch video

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