The recent rally, which started in mid June and which could send Nifty all the way up to 16,600-17,000, does not mean that we are out of the bear market, said Rohit Srivastava, founder and market strategist at Indiacharts.
We have had five down sessions on the trot, a pullback was always lurking around the corner and today we saw that pullback play out, says Udayan Mukherjee, managing editor, CNBC-TV18
Due to the volatile environment around the globe and in India, Dilip Bhat of Prabhudas Lilladher expects the Nifty to fall to 4500 levels by December.
Sudarshan Sukhani of s2analytics.com tells CNBC-TV18 that traders should start building short positions again because the downtrend is back.
Rahul Chadha of Mirae Asset Global Investments spoke to CNBC-TV18 about his expectations of the market. Checkout his comments.
Ambareesh Baliga, chief operating officer at Way2Wealth spoke to CNBC-TV18 about his expectations of the market today.
Mithil Pradhan of Violet Arch Capital Advisors spoke to CNBC-TV18 about his expectations from the market today.
After the huge pullback rally yesterday, Sudarshan Sukhani of TechnicalTrends.com tells CNBC-TV18 that traders should look at buying on dips.
After yesterday’s great fall, the market ended on a positive note with Nifty at around 4,756 levels, down 50 points and Sensex shut shop 169 points lower at 15,869 levels. The breaks past 4,700 levels have been very shallow. CNBC-TV18's managing editor Udayan Mukherjee termed today’s session as a bit wishy-washy.
After yesterday’s sluggish move, the market woke up to bad global cues across the board, said CNBC-TV18's managing editor Udayan Mukherjee. Towards the fag end of the session, the Nifty managed to work its way close to 5,050 levels, but closed below that as the market had some heavy lifting to do in the form of technology stocks, he clarified.
"It's the big day today with Infosys results coming up and we will probably get decent set of numbers backed by the present scenario of rupee," says CNBC-TV18's Udayan Mukherjee.
At last, the global markets are smiling and the cheer seems to echo loud back home. Reading the pullback seen across the globe, Sushil Kedia, president of ATMA says it is 'a classical bear trap' set up from which the latest rally has emanated both on the S&P and on the Nifty.
The market had a very good come back today, closing much near to the psychological 5000 mark at 4971 points. “It still looks like a major technical bounce aided by short covering, particularly because volumes were not great today,” says Udayan Mukherjee, managing editor, CNBC-TV18.
"The pullback rally of the Nifty not really been very meaningful as of now, however, positive global cues could lead it to greater heights," says Udayan Mukherjee, managing editor, CNBC-TV18.
It is best to concentrate on stong stocks such as Auto or Energy in a weak market than on banks, which are probably the weakest, says Anu Jain of IIFL. In a discussion with CNBC-TV18, she said that technical charts reveal that Friday's pullback of the Nifty might not last and the long-tem bias is downwards.