Chandan Taparia of Motilal Oswal Financial Services said candle setup suggest overall weakness but daily setup suggests that meaningful dips could be bought.
With regards to financials, he said he still likes private banks.
Global events and news flow will influence the market as market players will closely track on any news related to Brexit, US–China trade talks and crude oil prices
Mazhar Mohammad of Chartviewindia.in said as indices are trading close to its critical support of 10,700 a pull back attempt can't be ruled out in the next session.
"Baring the PSU pack, the rest of the market is fairly valued and it is better to invest systematically," said Naren.
"After the IL&FS episode, 'inter-connected exposures' is a concern for markets," said Kotak.
Going forward, 10,700 is expected to act as crucial support for the Nifty, and any fall towards 10,700 may get bought
Once the elections results are out and market takes cognizance of that, the earnings recovery should be pretty strong, said Vaibhav Sanghavi, co-CEO of Avendus Capital.
Option band signifies a lower shift in the trading range in between 10,650 to 11,000 zones, experts said.
With regards to IT, the tailwind on rupee continues to sustain, said HSBC Global AMC's Tushar Pradhan.
Mazhar Mohammad of Chartviewindia.in said traders who are on short side will consider booking profits close to 10,700 levels.
If the market closes below 10,650, it would be a confirmation that the market is going to see a rundown, he said.
However, this period could also offer opportunities to cherry pick some quality equity investment.
Immediate resistance zone is seen at 10,960-11,020. But, last week’s high of 11,118 needs to be taken out a rally to be seen on the upside
Markets are more likely to follow global cues where we have seen a huge underperformance by India which can get corrected via a post-budget rally in February.
Paul Krugman is Professor Emeritus of Princeton University's Woodrow Wilson School and was awarded the Nobel Prize in 2008 for his work on economic geography and identifying international trade patterns
Analysts are of the view that volatility is likely to increase as we head towards elections and investors should stay away from mid & small-cap stocks
According to Mazhar Mohammad Chartviewindia.in, as of now some strength in Nifty can be expected above 10,930 levels but in order to get back in the game bulls need a close above 11,041 levels.
Till the Lok Sabha election markets will remain volatile and may continue its corrective move
Technically, we are of the view that it’s a valid breakout and chances of (Nifty) hitting minimum 11,250 and maximum 11,400 are bright
Chartists call a false breakout when price of a security or an index temporarily moves above a crucial resistance level, but then later slips below that level and comes back at the same level where it started.
Participant activity suggests Foreign Institution Investor (FII) renewed interest in Indian markets as they added net 48,278 contracts on the index long side.
Any decisive move above the stiff resistance 10,985 will push Nifty higher towards previous swing high (11,111)
Nifty could remain in 10,830-11,119 range for a few days and then gradually move forward to scale new highs. In such a case, we could see a pre-election rally towards 11,380 and 11,500.
Index may stuck in consolidation band so short Vega and Theta strategy like Deep Out of the Money Short Strangle, Ladder Spread, Ratio Spread could favour to Option traders in such kind of market scenario.