Watch accompanying video of Nilesh Shah, MD of Kotak Mahindra AMC, Utpal Sheth, CEO & Partner of RARE Enterprises, Raamdeo Agrawal, ED of Motilal Oswal and Sandeep Kothari, Portfolio Advisor at Fidelity International along with Ramesh Damani decoding the Indian markets.
In an interview with CNBC-TV18 Ajay Srivastava, CEO of Dimensions Corporate Financial Services and Ashwani Gujral of ashwanigujral.com shared their reading and outlook on the market and also gave recommendations on various stocks.
Experts such as Devang Mehta, Head – Equity Advisory at Centrum Wealth Management believe that there is no reason to panic as corrections are a part and parcel of any bull market.
"We are taking slightly contra view on index and expect Nifty index to see a short-term pullback from current level. Till the time Nifty is trading above 10033.35, the Higher Top Higher Bottom formation on weekly chart remains intact. On weekly charts, RSI (14), has signaled an oversold condition post the formation of a bearish divergence," says Aditya Agarwal, Head Technical Research at Way2Wealth Brokers Pvt. Ltd.
“The trajectory looks a lot more volatile this year. Unlike 2017 which had a clear up run, that’s not going to be the case in the year 2018. Considering we are sitting in a pre-election year, things are likely to remain volatile amid challenging macro environment,” said Sandeepa Arora, President, IIFL Institutional Equities.
Watch the interview of Mayuresh Joshi of Angel Broking Ltd, and Mitessh Thakkar of mitesshthakkar.com with Nigel D'souza and Mangalam Maloo of CNBC-TV18, where they shared their readings and outlook on the market and also answered viewer stock queries.
In an interview with CNBC-TV18, Rahul Ajmera, CEO of IIFL Institutional Equities spoke about his reading of the market and his outlook. He was speaking from the side-lines of IIFL Enterprising India Conference.
"There could be further pain in the market," said Rishi Kohli, MD -Pro Alpha Systems.
In an interview to CNBC-TV18, from the sideline of the IIFL Enterprising India Conference, Ashutosh Datar, Equity Strategist at IIFL Institutional Equities shared his views and readings on the market.
Watch the interview of Sudarshan Sukhani, Ashwani Gujral, Mitessh Thakkar, Rajat Bose, Deven Choksey, and Manoj Murlidharan with Anuj Singhal, Latha Venkatesh and Surabhi Upadhyay on CNBC-TV18.
Watch the interview of Gaurang Shah of Geojit Financial Services and Ashwani Gujral of ashwanigujral.com with Latha Venkatesh and Prashant Nair of CNBC-TV18, where they shared their readings and outlook on the market and also answered viewer stock queries.
In an interview with CNBC-TV18, Ayon Mukhopadhyay, Director of IIFL Institutional Equities for UK and Europe spoke about his reading of the market and his outlook. He was speaking from the side-lines of IIFL's 3-day India Global Investors Conference.
Interview with Hemang Jani, Head — Advisory, Sharekhan.
In an interview to CNBC-TV18, GV Giri, Head of Research at IIFL Institutional Equities spoke at length about IIFL’s conference and shared his views on the market.
"Indian market is under pressure largely on account of both domestic as well as global factors. But, in the near term, it will be global cues which will give direction to the Indian market," says Pramod Gubbi of Ambit Capital.
Watch the interview of Sudarshan Sukhani, Ashwani Gujral, Mitessh Thakkar, Sandeep Wagle, and SP Tulsian with Anuj Singhal, Latha Venkatesh and Sonia Shenoy on CNBC-TV18.
Jain believes that it will not have a long term overhang. He doesn't think this is s systemic fraud that will have a cascading impact.
Watch the interview of Ashwani Gujral, Mitessh Thakkar, Siddharth Bothra, and Sudip Bandopadhyay with Anuj Singhal, and Surabhi Upadhyay on CNBC-TV18, in which they shared their readings and outlook on market technicals and fundamentals side of the market as well as specific stocks and sectors.
The Midcap earnings were far better but headline growth was skewed by a few names. It’s surprising that this market has held up relatively well at clearly stretched valuations.
"The index has formed a Bearish Belt hold type of candlestick pattern as opening and intraday were the same. After the last seven days of sideways price action, the index is showing signs of breakdown and resumption of downtrend with new closing low for the decline starting from its all-time high," says Ashish Chaturmohta, Head of Technicals and Derivatives, Sanctum Wealth Management.
Ajay Srivastava said private banks are largely unaffected but now it is becoming banking to economy problem.
Watch the interview of Ashwani Gujral, Mitessh Thakkar, Mayuresh Joshi, S P Tulsian and Ambareesh Baliga with Anuj Singhal and Surabhi Upadhyay on CNBC-TV18.
We maintain a weekly rangebound trade for the index with 10590 on upside and 10320 on downside. It will be advisable to approach bottom-up strategy and to use every rally as selling opportunity on short-term basis.
Believes that the market is good for investment at this stage. However, aggressive returns of 2017 may not be repeated, but on a 2-year basis, investors can expect positive returns, he said.
We believe markets will see some time wise correction from current levels in the broader range of 10,300-10,700 levels over the next few weeks, says Vikas Jain