Market taking a pause post rally, inherent strength intact: Pros

After a stupendous rally, Indian markets have been giving back some gains, falling in step with global stocks.But experts say Indian markets may be more resistant to a fall -- in today's trade, local indices bounced back from the day's lows when markets across the globe were down between 1-2 percent. This shows the market's inherent strength, say market experts."At no point during the day, Nifty (futures) premium fell below 20 points," Ashwani Gujral of ashwanigujral.com points out, adding that in a difficult market when there is good amount of shorting, Nifty premium tends to go down to 10 points or even lower.Similarly, he says Bank Nifty (futures) was trading at 35-point discount, which has been there even when the market was on an uptrend.These trends indicate today's fall is less of institutional selling or major shorting and more of general profit booking, Gujral told CNBC-TV18 in an interview in the Closing Bell segment. Experts continue to see 8250 as a key resistance level for the Nifty. In the same segment, Sudharshan Sukhani of s2analytics.com, Parag Thakkar of HDFC Securities and SP Tulsian of sptulsian.com also expressed their views on specific sectors and stock picks.Watch video for more...