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
Story continues below Advertisement

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.

Story continues below Advertisement

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!