One should realize that market is ripe for an accident and so taking some money off the table is advisable, says Mehraboon Irani.
At last the bulls on Dalal Street took a breather today. Major indices barely ended in the green and midcaps saw minor profit booking. The Sensex was up 15.75 points at 36155.73, while the Nifty was up 2.30 points at 11086.00.
Ashwani Gujral of ashwanigujral.com says today's narrow range day has come after a large rally, which sometimes could be a turning point. So if the market gaps-down for some reason below today’s low then you could have 2-3 more sideways days. However, it is possible that post that, maybe if something global happens, the market will start coming off.
Indecision at the top of a rally is never positive – so either we should get past today’s high quickly tomorrow or day after or this will start to become a problem area, says Gujral.
According to Mehraboon Irani, MD & CEO Gini Gems Consultants, one should realize that market is ripe for an accident and so taking some money off the table is advisable.
Prakash Gaba of prakashgaba.com says today was a classic indecisive day for the market, it could open high tomorrow and then later trade down. Either up or down tomorrow is expected to be a large day, he added.Technical and fundamental experts SP Tulsian of sptulsian.com, Ambareesh Baliga and Pankaj Pandey of ICICI Direct shared their views on stocks that reported numbers and other stock specific action.