We are not very optimistic on the sector as capacity additions are likely to continue and pricing discipline will therefore be intermittent in nature.
The index touched an intraday high of 11,606.70 and low of 11,550.55, before closing 12.40 points higher at 11,596.70
A stable government will give a good fillip to the markets as it removes economic & policy uncertainty and portfolio inflows, said Aniruddha Naha of DHFL Pramerica Asset Managers
There has never been dearth of quality and alpha-generating stocks in the market irrespective of cycles. Hence, the investors may still invest in quality stocks
IT companies are expected to post strong revenue growth in the seasonally-weak fourth quarter, said Sidharth Sedani of Anand Rathi
Mazhar Mohammad advised traders to consider fresh shorts once Nifty closes below 11,549 levels.
It appears that we are in the early stages of a bullish phase but, as usual, very few can trust this upswing especially keeping in mind the impending general election at the doorstep.
Breach and sustenance above 11,760 on Nifty on tradable basis can help the rally to continue towards 11,900-12,000 levels
Mazhar Mohammad advises traders to remain neutral on long side for time being whereas shorting opportunity shall arise on a close below 11,550 levels.
"It is too early to build-in election outcomes, the momentum will build up in the next couple of months," he said.
Government policy, decision taken ability, measures and spending can get delayed impacting the earnings growth expectation of the market, if there is a fragile hung parliament.
"We think the global environment is conducive for emerging markets," said Sridhar Sivaram, investment director, Enam Holdings.
One could be long on Nifty with the stop loss of 11,500. A breach above 11,761, could push Nifty towards targets 12,000 and 12,430
We are at a critical stage of the economy. While consumption and government-led spending have kept the economy on track for the past few years, there are signs of these slowing down
"If BJP wins we could see a reasonable correction of 5-7 percent. However, as of now, we are going along with the flow," Samir Arora said.
Mazhar Mohammad of Chartviewindia.in said if Nifty breaches 11,549 on closing basis, selling pressure shall get accentuated further with targets placed around 11,300 levels.
Above 11,770, Nifty would jump to 11,950-12,050. Our focus should be on metals, pharmaceuticals, technology and auto sectors
The upcoming years should show us strong earnings growth. Therefore, I would not be too worried on account of global events since investors need to realize that the construct of a GDP is more of domestic consumption.
Few large-cap stocks are performing well that are contributing high in the index gain. However, if we talk about mid and smallcap, steam is gathering to give a breakout based on the charts
Call Butterfly Spread is bullish to rangebound strategy that offers decent reward to risk with low cost
The relative strength index is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset.
Minor downward correction in midcaps is going to be a 'buy on dips' opportunity in the midcap stocks for near term
The relative strength index (RSI) on the Nifty50 daily chart has formed a negative divergence, but a new high cannot be ruled out on a sustained trade above 11,680.
In an upward trend, a gap is produced when the highest price of one day is lower than the lowest price of the next day. Conversely, in a downward trend, a gap occurs when the lowest price of any one day is higher than the highest price of the next day.
In the run-up to the elections, sectors such as consumption and infrastructure tend to be in the limelight. We are constructive on financials, healthcare and infrastructure sectors.