Formation of a hammer type pattern after a bearish belt hold in the previous session is a positive sign for investors. It suggests that market is attempting to determine a bottom.
Individual stocks will continue to perform and so one can look at buying ONGC, Berger Paints, Asian Paints, Power Finance Corporation (PFC) and cement stocks, says Sudarshan Sukhani
Deven Choksey, mananging director, Choksey Shares says the Nifty is likely to trade in the 6000-6200 range.
Market experts advise investors, on CNBC-TV18, to maintain long positions and bet on auto major Mahindra & Mahindra and Zee Entertainment.
Market experts advises investors to close positions in order to tame the short-term market trend, go short on metals and bet on Tata Global
Sudarshan Sukhani of s2analytics.com indicates that long positions were the need-of-the -hour in a market of this sort. Fundamental analyst SP Tulsian of sptulsian.com is positive on Reliance Communications and the realty sector and market analyst.
The Nifty seems to be in a strong downtrend and could be heading for a new 52-week low, said Devangshu Datta, Consulting Editor of Outlook. Moreover, he feels the Nifty will not move past 4,850 levels on the upside.
Until the Nifty breaks below the 5,200 mark, it is advisable to not take any short positions, said Sudarshan Sukhani of Technical Trends. "If the market closes significantly below 5,200 levels, it will give a clear message that the short-term trend has changed to neutral," he told CNBC-TV18 in an interview.