The level of 10,185 on Nifty is a strong support zone and if it bounces from there then that is the last line of defence, but if that goes then maybe 10,089-10,000 could be seen, says Prakash Gaba.
See 10,185 as strong support zone for Nifty; not a buying dip yet: Experts
On the first trading of the week, most indices ended the day with steep losses. The Nifty opened flat but saw a continuous decline throughout the day. The index closed below 10,250 level. The Sensex ended 280-points in the red at 33033.56.
In an interview to CNBC-TV18 market experts, SP Tulsian of sptulsian.com, Prakash Gaba of prakashgaba.com, Mitessh Thakkar of mitesshthakkar.com, Mayuresh Joshi, Fund Manager (PMS), Angel Broking Ltd and Deepak Shenoy, Founder, Capitalmind.in discussed stock specific action and the outlook for the market going forward.
According to Gaba, 10,185 on Nifty is a strong support zone and if it bounces from there then that is the last line of defence, but if that goes then maybe 10,089-10,000 could be seen. It is very likely that we may see a technical bounce at 10,185 levels.
Shenoy says it is not yet time to jump in and buy, would wait for a more correction. Some of the stocks are still make new highs.For entire discussion, watch video