Nifty at 7-month high: Is it time to sell or buy now?

It's been a stable day of trade at the bourses. What began as a slightly quiet session ended on a high note despite muted global cues. The Nifty closed above 5600 mark for the first time since July 25, 2011. The Sensex too piled on 139 points to close at 18428.
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Home » News » Markets » Market Edge

Feb 22, 2012, 08.06 AM | Source: CNBC-TV18

Nifty at 7-month high: Is it time to sell or buy now?

It's been a stable day of trade at the bourses. What began as a slightly quiet session ended on a high note despite muted global cues. The Nifty closed above 5600 mark for the first time since July 25, 2011. The Sensex too piled on 139 points to close at 18428.

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Nifty at 7-month high: Is it time to sell or buy now?

It's been a stable day of trade at the bourses. What began as a slightly quiet session ended on a high note despite muted global cues. The Nifty closed above 5600 mark for the first time since July 25, 2011. The Sensex too piled on 139 points to close at 18428.

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Nifty at 7-month high: Is it time to sell or buy now?
Moneycontrol Bureau

It's been a stable day of trade at the bourses . What began as a slightly quiet session ended on a high note despite muted global cues. The Nifty closed above 5600 mark for the first time since July 25, 2011. The Sensex too piled on 139 points to close at 18428.

So, is it time to sell or buy now?

Sudarshan Sukhani of s2analytics.com suggests staying long in the market. "Rather than trying to do intraday trading, positions should be maintained. I am assuming people have long positions. If they donít have it then even now they can go and take it, "Sukhani elaborates.

C Jayaram, Managing Director, Kotak Mahindra Bank agrees that the market momentum may last another 5-7% as there is still some amount of liquidity flow in the market.

On a positive note, Jayaram explains that any negative news from the global news is unlikely very soon while the domestic market is waiting for some more triggers in March. UP election results, RBIís credit policy review and Union Budget is expected in March.

"I think that theoretically could be a trigger either way because if the congress does much worse than what people expect at this point of time then theoretically that could become a trigger for a fair sell-off," Jayaram adds.

According to Jayaram, it is best to start fresh investment around the interest rate sensitive sectors like banking, infrastructure, capital goods and realty in some specific stocks.

Nasrin Sultana

nasrin.sultana@network18online.com

 

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