Results to determine mkt fate hereon: Deepak Chhabria
Published on Wed, Jan 17, 2007 at 09:41 | Source : Moneycontrol.com
Updated at Wed, Jan 17, 2007 at 18:42
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Results to determine mkt fate hereon: Deepak Chhabria
As we proceed through earnings season, Deepak Chhabria of IL&FS Investsmart maintains that post the initial IT results, he doesn’t expect any major surprises on the upside.
As we proceed through earnings season, Deepak Chhabria of IL&FS Investsmart maintains that post the initial IT results, he doesn't expect any major surprises on the upside.
He adds that only if there are some real positive tickers on the results counter, will it be possible for the markets to see new highs from current levels.
"You will see the market come up to the upper end of the band where we were expecting a consolidation. My view continues to be the same. Post initial results we haven't seen any great positive surprises. Unless we see a positive surprise from here forward in any of the other sectors moving up from here will be tough," he elaborates.
He expects to see a lot of volatility in the market going forward. "It will be in a volatile range based on individual results of many of the larger companies and we are yet to see many of the larger Nifty stocks announce results."
According to him, the market is valuing all the positive sentiment and expecting rest of the corporate results to be in line with what we have seen till now.
"Normally at the end of earnings we can decide how much of positive surprise we have really seen. Of the results that are till now, we are probably fairly valued," he adds.
As he is unsure whether all sectors will deliver on the same lines as the tech companies, he is very cautious on the short term.
