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| Upside to the market can take it to 11,000-12,000 | | | With budget around the corner, analysts are expecting markets to open weak on Monday. While 10,300 is a short-term resistance, 9,970 is a very strong support on the downside. The upside to the market can well take it above 11,000 or may be 12,000 they feel.
With budget around the corner, analysts are expecting markets to open weak on Monday. While 10,300 is a short-term resistance, 9,970 is a very strong support on the downside. The upside to the market can well take it above 11,000 or may be 12,000 they feel.
Dipan Mehta, Member NSE
The upside to the market can well take it above 11,000 or may be 12,000
This is not a secular bull market as stocks are gaining and correcting on a selective basis. Unless there’s a major disaster or some serious geo-political tensions between the US and Iran the markets are not seen to be going below 9,800 levels. The upside to the market can well take it above 11,000 or may be 12,000.
The markets will open flat on Monday
The markets will open flat on Monday but action could be seen in selective sectors and stocks. Selectivity has been the major trend in February of 2006. While the markets traded in a range select stocks in the pharma sector did very well.
Markets will be at these levels only as we are not seeing any pre-budget build up
Generally markets will be at these levels only as we are not seeing any pre-budget build up. Although sentiments remain positive and small investors remain hopeful that the budget will be good it is not reflecting as a major build up in the markets.
Budget will drive sentiments next week
Budget announcements and reactions to the budget will drive sentiments next week. After that we will be into a very important earnings season, which will lead to a reality check.
Suraj Saraogi, Keynote Capitals
Above 10,300 expect 300-400 point rally
If the market crosses 10,300 on the back of good budget euphoria, we might see another 300-400 point rally after that.
Speculative, rumour-based news that will drive the sentiments
On the eve of the budget the media will flash a lot of speculative, rumour-based news that will drive the sentiments going into trade on Monday. We saw a flash of that in Friday’s choppy trade. On Monday markets might take some clue from the media and bounce back.
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