Market level may rise 10% on good earnings, monsoon: Dipan Mehta

Selective buying into the midcap and largecap space looks like a good strategy for investors in a year which is likely to be decent going forward, says Dipan Mehta, member at BSE & NSE.  This comes on a day when equity benchmarks ended flat post a 2 percent fall in the previous session. The Sensex rose 17.04 points to 24900.63 and the Nifty advanced 11.15 points to 7614.35 on Wednesday. Speaking to CNBC-TV18, Mehta says a 25 basis points (bps) rate cut by the Reserve Bank of India (RBI) has been positive for the markets. Furthermore, market levels could rise by 10 percent July onwards in case of a good earnings and monsoon season coupled with another rate cut, he adds. Meanwhile, Sudarshan Sukhani, of s2analytics.com believes that markets traded in a narrow range today. Sukhani advises investors buy Nifty with a stop loss at 7550. On international markets, Market Expert Ajay Bagga says that global market risks are likely to continue going forward and a lot will depend on global flows, which are negative flows form foreign investors. Overall, emerging markets (EMs) are getting inflows and valuations are cheap in India, Bagga says. However, there are other cheaper Asian markets, particularly China, which have put India on a backend and could change the picture, Bagga adds. Back home, he believes domestic investors have enough money, which was partly reflected in today's midcap and largecap trade.In addition, Ambareesh Baliga, SP Tulsian and Ashwani Gujral shared their reading and outlook on market technicals, specific stocks and sectors. Watch video for more