According to Mazhar Mohammad of Chartviewindia.in, the index may undergo profit booking if it trades below 10,876 levels for atleast one hour in next session.
With regards to earnings expectations, Patil said: "Earnings remain the joker in the pack. Market is expecting strong earnings growth in FY20 but Q3 FY19 is expected to be weak and so one would have to focus on downgrades."
It is prudent to run a relatively defensive large-cap portfolio with sectoral exposure to banks, consumer staples, IT and pharmaceuticals, while keeping an eye out for opportunities that expectation swings might throw up
Mazhar advised traders to buy now and add further of declines towards 10,800 with a stop below 10,770 on closing basis and look for a higher targets beyond 11,000 kind of levels.
'I think time has come for Indian market to start doing much better than what we have seen in the last many months,' Gautam Shah said.
The easing of crude oil prices, persistent weakness in inflationary trends and the easing of bond yields has resulted in a marked improvement in macroeconomic conditions – an important pre-requisite for a rally in Indian equity markets
The upcoming general election in 2019 is an opportunity to invest for the long term
Below 10,670, Nifty could arrest around 10,550, as it has spent maximum time around this level in last 12 months
Weak global cues and a depreciating rupee added to the woes of bulls on Monday.
As advance decline ratio completely favoured the bears traders will be better off to adopt a neutral stance till indices register a directional move, Mazhar Mohammad of Chartviewindia.in said.
Abhijeet Dey, Senior Fund Manager, BNP Paribas Mutual Fund is positive on sectors like private sector banks, insurance companies, consumer staples, paints, media, retail.
The Nifty has a good support at the 10670 mark. As long as it sustains above the mentioned levels, we maintain our cautious view, says Swati A. Hotkar of Nirmal Bang.
Positive to rangebound view on Bank Nifty till it holds above 27,000 zones while rangebound bias on Nifty index till it doesn't surpass 10,925-10,985 zones decisively.
The pattern has the shape of a head and two shoulders. It can act as a reversal or continuation pattern depending on the trend prior to its formation and the type of the Head and Shoulders pattern
The Three White Soldiers pattern can appear after an extended downtrend or a period of consolidation.
Chandan Taparia of Motilal Oswal said now the index has to continue to hold above 10,750-10,777 zones to witness an upmove towards 10,880 then crucial hurdle at 10,925-10,985 zones.
Regardless of international or political set up on the national front, investors should focus on companies which can give earning prominence, and have a high margin of safety with high corporate governance standard.
For India, the extent of the fall in the Sensex from its highs was much more during the Chinese scare, but that was also the period when we had our spectacular demonetisation experiment
I think for international investors, the message is that one needs to be much more selective in India, Maldonado said.
The predominant threats would be sharp rise in crude prices, trade war and retaliatory tariffs amongst the leading economies of the world, and a sharp rise in interest rates across the world
Mazhar Mohammad of Chartviewindia.in advised traders to focus on the levels which can facilitate such a directional move going forward.
Ajay Srivastava said he is not bullish on Sun Pharma because the structural story for the stock is not there and by and large it has been a big disappointment.
We expect the Nifty earnings to grow at a CAGR of ~20 percent between FY19-21 and the economic fundamental is likely to improve further, says Sundar Muthukrishnan of Elara Capital
Investors are worried that the government is granting farm loan waivers at a time when income tax collection and asset sales are falling short of estimates
India exported around 1.43 lakh tonnes of jeera in FY17-18 and exports in FY18-19 are likely to be around 1.75 lakh tonnes