Indian markets closed on a quiet note despite receiving positive global cues. The 50-share NSE Nifty settled at 5,481.70, up 0.7 points, while the 30-share BSE Sensex closed at 18,300.9, up just 27.10 points. As far as impact of the upcoming budget is concerned, most experts have expressed a neutral opinion.
Mehraboon Irani, Principal and Head-Private Client Group Business, Nirmal Bang Securities, feels that the next few days will be very crucial for the markets. "They may still falter because the headwinds are very much there but pockets of opportunities are also available in the market. Investors need to select stocks very carefully as the markets are still very negative. He continues to be quite confident of seeing a new high in 2011 itself. According to Jai Bala, Chief Market Technician, cashthechaos.com, the markets are very close to the end of the collective rise and looking at the historical trend, markets have never corrected more than 16% all through the current rise from the lows seen in 2009. In BalaDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
