Short-term trend cheerful, medium-term still bearish: Experts

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26 Aug, 2025 12:21

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After a sharp sell-off the market gained in last hour of trading. The Nifty recovery about 150 points from days lows. The Sensex ended up 189.90 points or 0.8 percent at 23381.87 and the Nifty was up 60.20 points or 0.8 percent at 7108.45. Market experts suggest the short-term trend seems to be cheerful as against the medium-term trend.Market expert Ambareesh Baliga believes this continuous volatility is confusing the people and the bears seem to be more confident than the bulls. According to him and Sudarshan Sukhani of s2analystics.com it is completely possible for Nifty to go even below 6800 levels. So for Baliga Nifty between 6850-7200 is a no trade zone and he would only buy only if the range is broken on the downside or upside.Sukahni clearly believes the market hasn’t bottomed out but thinks a relief rally could take Nifty to 7400 levels even. There is definitely one more down leg left for the market, says Mehraboon Irani of Nirmal Bang Securities but as of now the house has started buying for their clients, especially stocks like Infosys which he thinks should be part of core portfolio for a one-year time frame. The house in the recent past also bought into Tata Motors, Motherson Sumi, ICICI Bank even though the next 1-2 quarters could be a challenge for the bank. However, Irani cautions that one should be careful while entering into midcaps or smallcaps because if the market falls another 3-4% then they could suffer the most. In largecaps too one needs to be selective.For trade tomorrow, Sukahni would buy the Nifty because the price action according to him is conducive to buying opportunity. He would buy HUL, Torrent Pharma and short sell BEML. However, Gujral says he would rebuild positions tomorrow itself.  Acording to him Vedanta, Infosys, Chennai Petro are a buy.In the same interview, SP Tulsian of sptulisan.com shared his views on various stocks. Experts also spoke on their view with regards to Just Dial and Dr Reddy’s buy back news.With regards to the upcoming Union Budget 2016 and expectations of focus on rural spending, defence and housing, one could look at stocks like BEL, Sintex Industries, says Baliga.For the entire discussion, watch video