Is a post Budget market sell-off looming? Experts divided

In an interview to CNBC-TV18 Gautam Sinha Roy of Motilal Oswal Mutual Fund,  SP Tulsian of sptulsian.com, Ashwani Gujral of ashwanigujral.com, Rajat Bose of rajatbose.com, Sudarshan Sukhani of sudarshansukhani.com and Dipan Mehta, member of NSE and BSE spoke about the way forward for the market with an eye on the upcoming Union Budget.

Mehta believes the market is more affected by the global factors than the Budget per se will have only a limited impact. He says it is also unlikely that the market will sell off post Budget unless there are some draconian measures like reintroduction of long-term capital gains.

Right now the pressure on our market is mainly due to relentless selling by FIIs due to volatility in global markets and unless that settles down, says Mehta.

However, Ashwani Gujral expects sell-off in the market and sees it falling 200-300 points if Nifty breaks 6850. According to him, levels of 7250-7300 in near term are proving to be a stiff resistence for the Nifty.