Nifty to be capped at 5250-5300 on the upside

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Nifty to be capped at 5250-5300 on the upside

Nifty maybe capped around 5,250-5,300 mark on the upside. CNBC-TV18’s Nimesh Shah reports.

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Nifty maybe capped around 5,250-5,300 mark on the upside. CNBC-TV18's Nimesh Shah reports.

Below is a verbatim transcript of his comments on CNBC-TV18. Also watch the accompanying video.

The first thing to watch out for today, will be the big Tata Motors block deal where Daimler will sell its 5.3% stake which we reported last night. Apart from that, the general sense is that this consolidation with a positive bias is likely to continue largely because most of the foreign institutional investors (FIIs) are now seeing positive flows from large institutions. So the long only funds, which missed out or are sitting on the sidelines ahead of the Budget. They seem to be putting in money into Indian equity. So clearly that is a bit of a positive sign.

The retailers and the way the stock futures are trading, looks like the retail participation is back. The only concern from the domestic point of view is a fact that because of March year-end, you will see some bit of selling pressure from the domestic insurance companies and mutual funds. High net worth individual (HNI) will try to book their losses for the further accounting standards. This is likely to be a bit of a pressure on the market at least in the near-term.

The Nifty maybe capped around 5,250-5,300 mark on the upside. As things goes, the way the global cues are and the way the flows suggest at least a consolidation with the positive bias is for sure. One should watch out for lot of the momentum stocks because that is where the whole action is going to be at least for the time being from the retail as well as from the larger HNI's point of view.