In an interview to CNBC-TV18, Manish Kumar, CIO of ICICI Prudential discussed fundamentals of the market as well as shared his views on some of the sectors.
Shah also said that one has to be cautious of the high valuations of several IPOs that are hitting the market. He remains positive on IT space and believes that the worst is over.
Today Nifty to open gap down by 6 points at 10162 from yesterday close of 10168 as per SGX Nifty, says Dynamic Levels.
Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 6.5 points at the opening bell, says Maximus Securities.
Independent market expert Ambareesh Baliga says this is a traders market and so it is better to take your profits on a daily basis.
Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 18.5 points at the opening bell, says Maximus Securities.
Nifty is opening gap down by 13 points at 10168 from yesterday's close of 10181 as per SGX Nifty, says Dynamic Levels.
The next Nifty target would be 10,500 and the Midcap index is likely to outperform.
The Sensex was up 151.15 points at 32423.76, while the Nifty was up 67.70 points at 10153.10.
Gautam Duggad of Motilal Oswal believes while valuations are not euphoric, they are rich versus long period averages.
The hospitality industry changed dramatically between 2000 and 2017, it has gone through a strategic shift ofan asset-heavy model to asset-light model, said Vineet Bhatnagar, MD, PhillipCapital.
In an interview to CNBC-TV18, Udayan Mukherjee, Consulting Editor of CNBC-TV18 shared his views and readings on the market, specific stocks and sectors.
As risk-reward ratios are not favourable, traders are advised to exit their long positions as Nifty rallies into the critical resistance points.
According to Dynamic Levels, if Bank Nifty gives breakout and closes above 24979 which is its 6 weeks high, immediate target for the index is at 25199. Crucial support for the Index is at 24458.
MindTree reversed after forming a Double Bottom pattern around Rs 440 and rose to 2-week high.
Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 51 points at the opening bell, says Maximus Securities.
Going ahead, long positions can be taken in pharma, PSU banking and IT counters as they may continue their positive momentum.
There are not too many sectors showing earnings growth – IT, pharma and PSU banks are not supporting the market, said Basant Maheshwari of Basant Maheshwari Wealth Advisors.
Dipan Mehta Member BSE & NSE is of the view that the story is in midcap stocks and there are fantastic price and volume movement actions across range of companies.
Porinju Veliyath of Equity Intelligence India also said that there could be some small infrastructure companies that have huge potential in the coming years.
The market is overvalued but not in a bubble zone, Rusmik Oza, Head-Midcap, Kotak Securities said in an interview to Moneycontrol.
According to a report by Dynamic Levels, markets are expected to remain volatile tracking mixed global market.
Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 62 points at the opening bell, says Maximus Securities.
It is a market which is positively biased, so one can trade with long bias on a stock specific basis and once the index breaks into fresh highs then trade on the index, says Mitessh Thakkar.
Sridhar Sivaram of Enam Holdings said one could also look for companies with reasonable debt and business model as reduction in interest rates could benefit them as well.