Ashwani Gujral of ashwanigujral.com said if we have a big gap-up opening for Nifty tomorrow, it should be accompanied with some macro news.
The valuations in the market are on the higher side and if one has to make money from here on then corporate earnings need to recover and grow faster, said Sampath Reddy of Bajaj Allianz Life Insurance Company.
Amisha Vora Joint Managing Director Prabhudas Lilladher is upbeat on Jindal Steel and Power, Hindalco and Tata Steel.
There is a correction which is overdue for this market and the sooner it comes the healthier it would be for the market, said Manish Sonthalia, Head Equities-PMS, Motilal Oswal AMC.
Look at 23,500 on Bank Nifty, 9750 on Nifty and if both these zones hold then rally will resume, says Ashwani Gujral.
ITC may continue to outperform. It is one of the cheaper stocks relative to the sector, says Anand Tandon.
Expect affordable housing story to help housing finance stocks. Like GRUH Finance and Can Fin Homes in that space, said Prashant Prabhakaran of YES Securities.
investors and traders need to brace themselves for slightly more negative trends, Dipan Mehta, Member of NSE & BSE.
The current breadth is narrowest in the market, says Sanjiv Bhasin of IIFL, so market is definitely going to see weaker days in the month of July.
The US market is beginning to look stretched and since a large part of our market seems to mirror what the rest of the world is doing, there could be a case made for being cautious.
The market is an uptrend but a weak one. it is not a market that is ready to shoot up, says Ashwani Gujral.
It would be safer to play stocks like HDFC Bank, ICICI Bank, which may not correct in case there is a fall, Abhimanyu Sofat of IIFL.
One should expect volatility and resistance on the upside, said R Sreesankar of Prabhudas Lilladher.
Mitessh Thakkar of mitesshthakkar.com says the Bank Nifty is likely headed towards 23200 to 23150 on the downside.
A further correction is very much likely and levels below 9550 will come at some point in time, says Ashwani Gujral.
The valuation of India markets look reasonable on a top-down basis but the valuations of individual stocks are super-expensive or fairly valued in most cases, Kotak Institutional Equities said in a report.
Since 14th March 2017, the midcap index has rallied by more than 7%, thereby outperforming Nifty index (up by more than 3%).