I am not bearish :Vishwas Agarwal
I am not bearish :Vishwas Agarwal India`s benchmark index, Sensex, started the week with a bang by opening at 16,697.89. Later the index touched an all time high of 16,869.64 in the intraday trades on account of heavy buying interest and strong Asian cues. The rally continued and ended the day on a strong note. The turnover of the market touched an all time high today at Rs 77.40 billion. Commenting on this technical analyst, Vishwas Agarwal, said, “ I am not at all bearish on the Indian market.“
Vishwas said “ On Tuesday, any raise in the heated stocks like Reliance group stocks and other will create a small overbought position,“ adding “this could lead to a small correction.“
Clarifying his view he said, “The correction is just a expectation because it happens.“
Giving the view on Tuesd ays market Vishwas said “It is possible that in the morning Sensex may touch 17,000 mark and NSE may touch 5,000 mark“.
Vishwas Agarwal recommended S Kumar Nationwide, DCB Co-operative Bank, Moser Baer, IFCI, Bank Of India, NDTV and VSNL with stoploss. He further said to feel the market follow RIL and SBI.
