Mumbai: The market sentiment is pretty buoyant after Friday's closing and experts believe that the markets will open strong today. We can expect the Nifty to open with a 20-point gap up on Monday.
The Sensex, on the other hand, could open up a smart 60-point following Friday's 78-point jump.
Rahul Mohindar, Technical analyst
Expect the Nifty to open with a gap of about 20 points
We expect the Nifty to open with a gap of about 20 points and 50-60 points on the Sensex on Monday.
We are bullish on the Nifty this week. 3460 is the key resistance above which 3582 will be the next target. We recommend short and medium term investors to stay invested with 3380 as the key support.
Fair chance that Nifty could reach 3582 going ahead
The frontline stocks look very good and there is a fair chance that Nifty could reach 3582 going ahead.
Sumeet Rohra, Antique Stock Broking
Overall market sentiment is buoyant
Markets are on a roll. We had very good run and if the market sustains 11,795 we could go up higher and touch 12,100. Overall the market sentiment is buoyant.
Critical level to watch out for is 11,795
The level we need to watch 11,795 and if we sustain that then we are definitely heading higher than that. Immediate resistance is 11,931 after which it will 12, 053-12,100. We have had an excellent settlement last week and markets will consolidate at these levels.
Focus to shift to midcaps
The focus now would be shifting back to midcap stocks. Possibly this week we will see largecap stocks consolidating a bit and one will see fair amount of buying in midcaps. It is definitely very positive for the market, as there is sector rotation.
Deven Choksey, K R Choksey
Markets should remain positive next week
As of now there are no negative cues. Largely, the markets should remain positive thisweek. It could try and possibly make an upside above 11900.
11900 is the key resistance level to watch out for
Otherwise, the range for the market is from 11620 to 11900. 11900 is the key resistance level to watch out for.
May cross 12000 levels
If this resistance is overcome we will be poised to cross 12000 levels.
Crude prices needs to be watched carefully
Crude prices needs to be watched carefully going ahead as it can have an impact on the Indian markets. They moved up after the inconclusive talks with Iran on Thursday.
Ajit Dayal, Quantum Advisors
US interest rates to have large impact on Indian economy
Since we are closely linked to capital flows because of our FII policy and specially the P-notes policy that we have had over the last couple of years, from our perspective, what happens to interest rates in the US will have more of an impact on the Indian economy and Indian capital markets compared to what happens to the US economy.
India should have policies for long-term money
If interest rates in the US begin to inch up and climb up to 5-5.5 per cent, again in our view that’s good, that’s stable, and sensible. Long-term money will continue to come to India. We are not big subscribers to the fact that you should allow all sorts of money to come into India. We believe that India needs long-term money and should have policies for that.
Surjit Bhalla, Principal OXUS Investments
Market is exciting- Buy into it
The market has a lot further to climb because the underlying fundamentals both domestically and internationally are very good at this juncture. Since the fundamentals are very good, this is an exciting market to buy.
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