FII flows may slow down but uptrend will continue: Analysts

Vinod Nair, Head of Research at Geojit Financial Services | Updates on Brexit deal and US stimulus package are expected to drive global market in the coming days. FED’s decision to keep rates unchanged will help FIIs to maintain a positive view on emerging markets like India.

Rohit Singre, Senior Technical Analyst at LKP Securities | For the next session, 13650 will act as good support on the downside. If the index manages to breach said level we may see some more dips. One the higher end good resistance is still placed at 13775 zone.

Ashis Biswas, Head of Technical Research, CapitalVia Global Research Ltd. - Investment Advisor | Trading above 13750 is positive from a short-term perspective. If market sustains above 13750 levels, the upside momentum may lead it to 13990 levels. 

Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities| For the next few trading sessions, 13650 should be the sacrosanct level for the trend following traders. Above the same, we can expect uptrend continuation wave up to 139935-14000. On the flip side, dismissal of 13650 could possibly trigger one quick correction leg till 13500. The larger texture of the market is still on the bullish side, so any short term corrections should be used to add quality IT, Pharma and FMCG stocks with the medium-term time horizon.

Ajit Mishra, VP - Research, Religare Broking | We’re seeing buying emerging on every dip despite the overbought condition. However, we feel it’s prudent to avoid naked leveraged positions now. In absence of any major domestic event, global cues will continue to dictate the market trend.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities | Nifty continued with range movement and showed upside recovery from the intraday dip. The consolidation movement could continue for the early part of next week, before showing further upside momentum in the mid part. The next crucial long term resistance to be watched around 13900-14000 levels for the next 1-2 weeks. Immediate support is placed at 13660.

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services | Going ahead, the market may continue with its positive biasness on the back of abundant liquidity, effective vaccine rollout and increasing prospects of Brexit deal and US Stimulus. Technically too, Nifty formed a small Bullish candle on the daily scale while making higher high - higher lows on the lower time frame. Now it has to continue to hold above 13600 to witness an up move towards 13850-14000 while the support exists at 13500. Overall, lower levels of volatility suggest that Bulls are holding the tight grip and any small decline could be bought in the market.