Sajiv Dhawan of JV Capital Services says that the momentum in the markets currently is favouring the bulls, even though volumes are not too good.

Ahead of the results, he says that tech expectations are high, and there is no real negative factor prevailing in the market right now. He expects the auto pack to fare well. "The momentum is very good, auto stocks have given a good move yesterday after good sales figures."  

While interest rates are hardening, he says that the market seems to be ignoring that aspect.

Dhawan advises clients to wait for the corporate results before initiating fresh positions.   

"There is a bit of a caveat there; I think one should wait for the results before taking fresh aggressive positions. They should play the momentum because the margins on those auto stocks will be looked at very closely. It is fine to have good sales, but if it impacts their bottomline, that could be a cause of concern," he explains.