Exports and the rural side of the story are the only positives, says Prabhat Awasthi, Nomura Financial Advisory & Securities. But there is no structural trigger for growth to pick up till the time policy environment revives.
The reason for this ceiling to a Nifty rally, Sangeeta Purushottam, founder and Managing Partner, Cogito Advisors explains, is that the stocks‘ valuations are no longer compelling to drive the market higher.
Talking to CNBC-TV18, Anand Tandon, CEO, JRG Securities says the market is range bound, and as there are no obvious domestic or international triggers, there is no reason why there would be a significant rally. He says there is no reason Infosys should cut its FY14 revenue guidance of 6-10 percent.
Ambareesh Baliga of Edelweiss Services recommends selling Tata Motors at the current market price on lack of meaningful upside.
Kirti Doshi, promoter, Antique Stock Broking believes most negative newsflow is already priced in now, so some stability in market is likely post the recent correction.
Devesh Kumar, head-India, CIMB explains on CNBC-TV18 that there could be some more upside in the market before the results season begins in early January. He adds that next year could be period of domestic reconstruction and global stabilisation and establish the required environment for an economic boom in 2014.
In an interview with CNBC-TV18, Vikram Murarka, chief currency strategist of Kshitij.com recommends a "sell on rally" for the rupee. According to him, a good level to sell would be 45.55-45.60.