SENSEX NIFTY
Apr 20, 2013, 03.34 PM IST | Source: CNBC-TV18

Nifty Futures may see 5850 until expiry: SP Tulsian

SP Tulsian, sptulsian.com expects Nifty to be rangebound till the April series expires. He feels at 5,800 the rally will stop because initially 5830 was seen as a resistance, but now the Nifty is closer to that level.

SP Tulsian, sptulsian.com expects Nifty to be rangebound till the April series expires. He feels at 5,800 the rally will stop because initially 5830 was seen as a resistance, but now the Nifty is closer to that level.

The market has been quite subdued in the last two or three days. Next week too is a truncated one and the current series also expires.

Also read: Unlikely for Nifty to breach 6000 soon says Dipan Mehta

 "I will not be keeping my positive stance except for the bank stocks, because some of the private sector banks will be declaring their results by the expiry, so  that may take the Bank Nifty a little up," he added.

However, one should watch out for the next series. Traditionally, May series has always been lackluster and weak, but this time May series has five weeks, which will be very crucial.

One can keep a mild positive view for three days till expiry, but one should avoid going long on series from May onwards. Till expiry, I will see a level of 5850 on the Nifty Futures," he added.

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