Vinod Nair of Geojit said the selloff in the mid and smallcap space can provide a value buying opportunity when the market turns around
Jay Thakkar of Anand Rathi Shares expects the market to trade with a negative bias in the July series
“A breach above 10,780 is a foremost condition for unfolding the next leg of the upmove towards 10,810 and 10,840 levels,” says Jaydeb Dey of Stewart & Mackertich Wealth Management
Considering the likely pick up in rural consumption, higher utilisation and recent reforms, we are hopeful that corporate earnings will witness double-digit growth in coming quarters
Kapoor said the basic texture of state-run banks has to change in terms of management and decision making.
His favoured picks in the IT space are Tata Consultancy Services, Infosys and Hexaware Technologies
"If the Nifty falls below the 10,680 mark, it could correct to 10,500 levels on the back of further selling," says Shitij Gandhi of SMC Global Securities
“Successful breakdown of 10,700 may unfold next leg of down move towards 10,670 and 10,650,” says Jaydeb Dey of Stewart & Mackertich Wealth Management Ltd.
Gaurav Dua of Sharekhan said given the pain points emerging in Europe and continued uncertainty in Middle East, the probability of ‘Risk Off/Risk Aversion’ kind of scenario has increased considerably in the past few months.
Dipen Sheth, Head-Institutional Research, HDFC Securities, said there is certainly some kind of bottom forming happening in the pharma space.
"In Nifty options, maximum open interest for puts is seen at 10,700 followed by 10,600 which is likely to act as crucial support for the market. In calls, 11,000 strike has seen maximum OI," says Ashish Chaturmohta of Sanctum Wealth Management
“Chart pattern suggests that the benchmark index may continue to face resistance on a rise and may retest downside supports placed around 10,740 and 10,700 levels,” says Jaydeb Dey of Stewart & Mackertich Wealth Management Ltd.
Sectorwise, he is betting on sectors such as steel, infrastructure, chemicals, and optical fibre cables as the opportunities in these sectors remain sizeable
S Krishnakumar believes that there is chance to make a lot of money when there is fear among investors. Valuations have drained out and earnings trajectory looks better, he said.
"Considering slowdown in momentum, Bank Nifty may see further pressure emerging in the second half of expiry," says Shubham Agarwal of Quantsapp Pvt
Investors need to be careful while selecting stocks in midcap space as any unfavourable result in state elections would result in a drastic fall in midcaps and smallcaps
“We continue to remain positive on markets till it sustains above 10,700 levels,” says Vikas Jain of Reliance Securities
“The Nifty ended last week with an inverted hammer candle, which implies nervousness still persists” says Jaydeb Dey of Stewart & Mackertich Wealth Management
Going forward though, market experts see earnings as well as monsoon to be the next big triggers.
"This week, we expect the market to remain rangebound between 10,925 on the upside and 10,720 on the downside," Dinesh Rohira of 5nance.com said
Rajesh Palviya of Axis Securities feels if Nifty crosses 10,900 levels then short covering can pull the indices to the 11,000 mark.
Sumit Bilgaiyan of Equity99 said the key factors such as rupee's movements against the US dollar and fluctuations in crude oil prices as well as developments on monsoon's progress will impact investors' risk-taking appetite.
Though Nifty remained positive, the chart structure will not turn bullish unless we register a decisive close above 10,930 levels, says Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.
Focus on the growth rate of the industry including future growth potential is a must
The brokerage house has a hold rating on DLF, while it has a buy call on Godrej Properties and Oberoi Realty.