Moneycontrol
Nov 23, 2017 04:29 PM IST | Source: CNBC-TV18

Don't see a breakout day for market tomorrow; volatility to creep in next week: Pros

According to Ashwani Gujral of ashwanigujral.com, tomorrow could be a sideways, range-bound day for the market.

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The market level at the close was not much different from that of the opening but it did witness a lot of volatility throughout the trading session. The Nifty traded in a strict range and ended above 10,300, while the Sensex ended flat.

The midcaps fared slightly better -- the index gained three tenths of a percent. The bank nifty slightly underperformed with a flat end, but, with a negative bias.

The Sensex closed up 26.53 points or 0.08 percent at 33588.08, while the Nifty was up 6.50 points at 10348.80.

Sanjiv Bhasin of IIFL is of the view that the market has sucked in everybody who has been on the sideline and liquidity is not giving any intraday drop, everything is being bought. However, globally things looks like we are headed for some volatility and so next week onwards some of that could creep in because of expiry and weakness in global markets.

So, it is advisable to be stock/sector specific. The Nifty today held on to 10,300 levels but next week if that level breaks then we could see 200-points on the downside.

According to Ashwani Gujral of ashwanigujral.com tomorrow could be a sideways, range-bound day for the market and it may hit the lower-end, higher-end, so boundaries have to be traded. Without any sort of global cues (because of thanksgiving holiday) unless there is any local cue, it is unlikely that tomorrow will be a great breakout day.

In the same interview, SP Tulsian of sptulsian.com and Mitessh Thakkar of mitesshthakkar.com along with other experts shared their views on specific stocks and replied to twitter queries.

For the entire discussion, watch video
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