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Slideshow | Markets likely to remain volatile; support for Nifty at 11,100: Experts

Here are the experts view on the market for the coming week:

August 10, 2020 / 07:42 AM IST
Benchmark indices ended higher in the week that ended on August 7 but remained volatile during amid mixed domestic as well as global cues. BSE Sensex ended 1.1 percent higher at 38,040.57, while the Nifty50 added 140.6 points to close at 11,214.05 levels.
Benchmark indices ended higher in the week that ended on August 7 but remained volatile during amid mixed domestic as well as global cues. BSE Sensex ended 1.1 percent higher at 38,040.57, while the Nifty50 added 140.6 points to close at 11,214.05 levels.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services | With the rising US-China tensions and resurging covid cases, the uncertainties are increasing while the early positive development on the vaccine front remains a silver lining. Thus the equity markets are likely to remain volatile, with more stock specific action as the earnings season progresses. Investors would watch out for China’s retaliation which could pull down the market while any announcement of US stimulus could bring some cheer. We also find the risk-reward unattractive at the current levels and we would advise investors to remain defensive in their portfolio approach. Traders on the other hand are advised to stay cautious and keep booking profit at regular intervals. If Nifty manages to hold above 11,150 it can to witness an up move towards recent swing high of 11,333-11,350 then 11,500 zones while the support exists at 11,100-11,050.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services | With the rising US-China tensions and resurging COVID cases, the uncertainties are increasing while the early positive development on the vaccine front remains a silver lining. Thus the equity markets are likely to remain volatile, with more stock-specific action as the earnings season progresses. Investors would watch out for China’s retaliation which could pull down the market while any announcement of US stimulus could bring some cheer. We also find the risk-reward unattractive at the current levels and we would advise investors to remain defensive in their portfolio approach. Traders, on the other hand, are advised to stay cautious and keep booking profits at regular intervals. If Nifty manages to hold above 11,150 it can to witness an up move towards recent swing high of 11,333-11,350 then 11,500 zones while the support exists at 11,100-11,050.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities | The market was in a wait-and-watch mode as domestic investors eyed US jobs data and the stimulus package to be announced during the weekend. Based on that we can see the trending activity in the local markets in the coming week. If the Nifty crosses the 11,260 level, aggressive traders would buy the market. Resistance can be seen at 11,350 and 11,500 while Nifty may get support at 11,100 and 11,000.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities | The market was in a wait-and-watch mode as domestic investors eyed US jobs data and the stimulus package to be announced during the weekend. Based on that we can see the trending activity in the local markets in the coming week. If the Nifty crosses the 11,260 level, aggressive traders would buy the market. Resistance can be seen at 11,350 and 11,500 while Nifty may get support at 11,100 and 11,000.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities | The short term trend of Nifty is positive amidst a range movement. A sustainable move above 11,250 could pull Nifty towards 11,350-11,400 levels in the next week. Immediate support to be watched at 11,100 and an important lower support for trend reversal is placed at 10,900.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities | The short-term trend of Nifty is positive amidst a range movement. A sustainable move above 11,250 could pull Nifty towards 11,350-11,400 levels. Immediate support to be watched at 11,100 and important lower support for a trend reversal is placed at 10,900.
Vinod Nair, Head of Research at Geojit Financial Services | Global markets are awaiting and will definitely be impacted by the heightened US-China tensions and imminent Chinese reaction. Heightened Chinese aggression could have a negative impact on our markets in the near term. However, there could be a silver lining for Indian markets in the long term, with global investors hesitating to invest in Chinese companies. For lack of options, some of this money could find its way into Indian companies, provided the right ecosystem is built. Earnings specific action will likely continue next week, with indices searching for direction in the near term. Accumulation continues the best strategy.
Vinod Nair, Head of Research at Geojit Financial Services | Global markets are awaiting and will definitely be impacted by the heightened US-China tensions and imminent Chinese reaction. Heightened Chinese aggression could have a negative impact on our markets in the near term. However, there could be a silver lining for Indian markets in the long-term, with global investors hesitating to invest in Chinese companies. For lack of options, some of this money could find its way into Indian companies, provided the right ecosystem is built. Earnings specific action will likely continue next week, with indices searching for direction in the near term. Accumulation continues the best strategy.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments | We have not been successful in closing above the 11250 mark - this could be because the markets would like to take a fresh call on Monday. Until then the support remains at 11,100. A trigger of 11,250 could take us to 11,400-11,500 and a break of 11,100 could drag us down to 10,800.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments | We have not been successful in closing above the 11,250 mark - this could be because the markets would like to take a fresh call on Monday. Until then the support remains at 11,100. A trigger of 11,250 could take us to 11,400-11,500 and a break of 11,100 could drag us down to 10,800.
Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking | The way markets are placed, the coming week would be quite crucial and hence, one should be keeping a close eye on few key levels. Although the market has managed to recover well, it would be a daunting task surpassing the sturdy wall of 11300-11350. Till the time it is not conquered successfully, we advocate some caution.
Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking | The way markets are placed, the coming week would be quite crucial and hence, one should be keeping a close eye on a few key levels. Although the market has managed to recover well, it would be a daunting task surpassing the sturdy wall of 11,300-11,350. Till the time it is not conquered successfully, we advocate some caution.
Moneycontrol News
first published: Aug 10, 2020 07:41 am

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