Moneycontrol
Apr 03, 2017 05:39 PM IST | Source: CNBC-TV18

Upbeat on market giving around 15% returns in FY18; see 9350 on Nifty soon: Experts

SP Tulsian of sptulsian.com is confident of the market giving around 15 percent return on the index for the new financial year.

Market ended the trading session on the first working day of the new financial at all-time high levels on the Nifty, Sensex and the Bank Nifty. The Sensex was just away from the level of 30,000 and the Nifty closed above 9200.

Market expert, SP Tulsian of sptulsian.com is confident of the market giving around 15 percent return on the index for the new financial year. One can also be stock specific, he said.

The Sensex was up 289.72 points at 29910.22, while the Nifty was up 64.10 points at 9237.85. The market breadth was healthy as 2,073 shares advanced against a decline of 819 shares, while 125 shares were unchanged.

There is so much euphoria in the Indian equity market that it did well today in spite of no support from the global markets. In dollar terms, in FY17 MSCI India was up 18 percent while MSCI Emerging market was up only 11 percent.

There is so much euphoria in market that the Indian market today did well even without global support. Moreover, this year in dollar terms, the MSCI India is up 18 percent while MSCI Emerging market index is up only 11 percent.

Mitessh Thakkar of miteshthacker.com said as long as 9250, which is the breakout zone is not breached, levels of 9350 are coming soon. So keep holding your longs with a stop at 9200.

Also listen in to the accompanying video for the whole discussion of the above guest as well as Prakash Gaba of prakashgaba.com, Mayuresh Joshi Fund Manager (PMS) of Angel Broking and Deepak Shenoy of Capitalmind.in along with CNBC-TV18's Sonia Shenoy and Anuj Singhal on stock specific ideas.

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