Published on Fri, Mar 19, 2010 at 22:36 | Source : CNBC-TV18
Updated at Fri, Mar 19, 2010 at 23:44
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Expert strategies to trade markets next week
In an interview with CNBC-TV18, Dilip Bhat, Joint MD, Prabhudas Lilladher; Sonam Udasi, VP Research & Head - Consumers Group, Brics Securities; and Mitesh Thacker, Technical Analyst, miteshthacker.com gave their strategies on the markets.
It was another day of positive consolidation for the markets. The indices flitted between the red and green and closed marginally higher. Good global cues helped the Nifty hold on above the 5,250 mark. The Nifty closed at 5,262, up 16 points. The Sensex shut shop at 17,578, up 58 points. The markets clocked fairly good volumes. Turnover for the day was around Rs 94,000 crore. For the week, however, the markets closed with good gains. Both the Nifty and Sensex closed up around 2.5%. So, how do experts see the markets going ahead?
In an interview with CNBC-TV18, Dilip Bhat, Joint MD, Prabhudas Lilladher; Sonam Udasi, VP Research & Head - Consumers Group, Brics Securities; and Mitesh Thacker, Technical Analyst, miteshthacker.com gave their strategies on the markets.
Excerpts of a verbatim transcript of their interview on CNBC-TV18. Also watch the accompanying video.
Q: What is it looking like - is the market still pushing to break that January high you think?
Bhat: I think basically markets after the over exuberant reaction post the Budget, largely aided by good FII inflows, I think it is probably now trying to pause for a while. My own sense is that in the immediate next two months we are close to the peak and in the next two months we should see some markets coming down somewhat, maybe about 250-300 points from the current level is what I think is very much possible.
Bhat: I think basically markets after the over exuberant reaction post the Budget, largely aided by good FII inflows, I think it is probably now trying to pause for a while. My own sense is that in the immediate next two months we are close to the peak and in the next two months we should see some markets coming down somewhat, maybe about 250-300 points from the current level is what I think is very much possible.
