It was a flat day on the mint street as benchmark indices Nifty and Sensex trade remained range bound in today's session and end the day marginally in green.
Nifty was up 14.40 points and closed at 8143 and Sensex closed at 26392, up 43.66 points.
Low volume rallies don't tend to sustain and this being a range bound market, one should stick to the ranges, says market expert Ashwani Gujral.
Speaking to CNBC-TV18, Gujral said that if Nifty drops below 8050 in tomorrow's trading session then it is a place to buy and if goes to or beyond 8250 then sell, otherwise there is not much to do in between on Nifty.
Neeraj Deewan of Quantum Securities said he is using only dips to accumulate stocks and not changing stocks right now.
On Bank Nifty, Mitesh Thacker of miteshthacker.com said that the index has been underperforming quite a lot and is not showing any signs of reversal despite being oversold last week.
So, if there is a breakout at 18,500 then there could be a stronger short covering led rally for the banking stocks and Bank Nifty itself.
But if it fails to get past 18500, so we might eventually see the index going back to 18,200 or further below, he added.Watch video for more...
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