After trading in a narrow range the markets ended flat. Select midcaps rallied while the PSU banks, Nifty Metal underperformed. The Sensex closed down 21.39 points at 32402.37, while the Nifty was down 4.05 points at 10149.05. The market breadth was negative as 1288 shares advanced, against a decline of 1311 shares, while 159 shares were unchanged.
Ashwani Gujral of ashwanigujral.com says market is quite narrow and is possibly building up for a large move but what will lead to that large move only time will tell. Maybe we need some sort of global macro to move strongly, he says. Overall, it’s a portfolio market. The index will move only when we see strong action on the upside globally.
Mitessh Thakkar of mitesshthakkar.com despite the fact there was a good breakout in the last few days, the index has barely moved 140 points from the lows. So, it would be advisable to do stock specific trading.
Independent market expert Ambareesh Baliga says this is a traders market and so it is better to take your profits on a daily basis. However, if one decides to keep it for overnight then keep only that much amount of money that one can afford to lose. Baliga also advices exiting the IPOs on opening gains. He is also wary of the housing finance companies which have had a good run over the last few months.
All the experts along with S P Tulsian and Sudip Bandopadhyay shared their views on stocks like Divi's Lab, Andhra Bank, GAIL, IGL, Mahanagar Gas, Tata Motors, JAI Corporation, Reliance Industrial Infra, Tata Steel, Tata Chem etc.
For the entire discussion, watch video
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