Moneycontrol PRO
HomeNewsBusinessMarketsSee immediate resistance for Nifty at 6190: JM Financial

See immediate resistance for Nifty at 6190: JM Financial

Gautam Shah, JM Financial feels there is immediate resistance around 6190 on the Nifty. “Only on a close above 6190 do the bulls have some of the control taking the index towards 6270-6300,” he adds.

March 11, 2014 / 16:51 IST

Here are experts’ equity calls for the day on how the market is expected to trade:

Gautam Shah, JM Financial: Technically, the market is looking quite directionless and lifeless on the charts. On the face of it the bulls have a slight advantage given the strong closing last week. There is immediate resistance around 6190. Only on a close above 6190 do the bulls have some of the control taking the index towards 6270-6300.

Also Read - NPA woes: Vultures circle India Inc; shotgun marriages seen

Jitendra Sriram, HSBC: We stay underweight on India for now. Prefer sectors such as energy, power, non-ferrous metals and telecoms. Elections will be a watershed event, but expect a slow recovery afterwards. Earnings expectations remain lofty, while mutual funds already have high exposure to India.

first published: Feb 25, 2014 09:04 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347