New Delhi: Analysts seem to be confused over the markets next week. It could possibly open firm; expect profit booking and consolidation; profit booking will continue; and opening can be negative is their varied response. However, momentum is likely to shift to mid caps as profit booking sets in in the large caps, feels one of them.
Sumeet Rohra, Antique Stock Broking
One could possibly see a firm opening on Monday
Market has given a very good week on week closing. One could possibly see a firm opening on Monday, despite the flat closing on Friday. Market has given a 400-point rally this week driven by strong FII inflows.
Current levels calls for prudence and caution
So long as the buying continues one can see more momentum into the market. However, current levels calls for prudence and caution on the part of both investors and short-term traders.
Momentum in the weeks ahead to shift to mid caps
Momentum in the weeks ahead is likely to shift to mid caps since the comfort levels in mid caps is far higher than in the large caps.
Markets may not correct if Japanese funds pour in
Japanese FIIs have lined up a USD one billion corpus that is expected to enter the Indian markets next week and that might act as a bulwark against some sort of correction that the markets are likely to witness in the coming weeks.
If this holds true it will be difficult for the markets to correct. Having said that I must stress that the markets are heavily into overbought territory.
10,594 and 10,556 key support levels
Keeping trailing stop losses at 10,594 and 10,556 support levels in mind, investors can go long on the markets. Below these levels the profit booking can intensify but the momentum is likely to return to the mid caps.
Vijay Bhambwani, Technical analyst
Expect profit booking and consolidation next week
I do expect profit booking and consolidation in the markets in the coming two-three sessions next week. Unless Nifty crosses 3197 levels markets will continue to remain under pressure and profit booking will continue to take place at higher levels.
Watch out for rising crude oil prices
I would watch out for rising crude oil prices as one critical factor that can influence the course of the market. Investors should wait for the markets to correct and stabilize before taking a call.
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Hitesh Sheth, Prabhudas Lilladher
Profit booking will continue to take place at higher levels
Profit booking will continue to take place at higher levels. This is likely to intensify in the latter part of the week. On Monday, the markets may open firm but profit booking is likely to take place later in the day.
3125 is a key level to watch out for
3125 is a key level to watch out for on the Nifty. If it goes below this level pressure will increase. The next support for the Nifty is at 3075 and 3050 levels.
Sandeep Wagle, Angel Stock Broking
The opening can be negative on Monday
The opening can be negative on Monday, but the outlook must be positive. We don't see any more than 100-150 point correction and 30-40 points on the Nifty. Market can go to 10,854 if it stays above 10,600. It will take a week to 10 days.
Ajit Dayal, Founder – Director, Quantum Advisors
It is still a FII-driven market:
The statistics show that domestic funds have been net sellers for each of the last three months, whereas FII’s have been the buyers. So it is still a FII-driven market and that has not changed for the last six-eight months and it is very difficult to say where the markets will go from here, in terms of the pressure of foreign buying into this market.
Pashupati Advani, Advani OTC Dealers
Midcaps have not moved as much as the Sensex in February:
Money flows are definitely taking stocks to new realities. What is interesting is that in February, it has been difficult, the midcaps have not moved as much as the Sensex. So if one was in ETF (Exchange Traded Funds) or an Index fund for February, one would be a hero, but not for the other 11 months of the year.
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