Nifty to test 5k in this F&O series
Brokers Outlook: Nifty to test 5k in this F&O series Sachin Chandsarkar, senior dealer, Karvy Stock Broking, opined that now there is no stopping the market, as everyday Nifty and Sensex are touching new highs. Euphoria is building up for Nifty crossing 5,000 mark. Nobody is going short in the market though small profit booking is being done on a regular basis. For the long-term portfolios, trailing stop losses are maintained at each level, added Sachin. He expects NSE Nifty may test a landmark of 5,000 mark in this F&O series. He is very bullish on the market and says that another milestone would be crossed before this expiry. Stocks to be watched out are Kesoram Industries, Divis Laboratories, Air Deccan and HLL. Anand Dama, analyst, KJMC Capital Services, states that market mood is euphoric. Banking, construction and cement stocks are trailing up. HDFC Bank an nounced a rate cut by 50 bps which could be one of the reasons of banks performing well. IT stocks did not do well because Rupee appreciation is hitting them hard. Market breadth was good. Reliance Group companies and auto stocks traded well at the bourses. He is bullish on the markets and expects it to open with an upward gap. Auto sector will perform well for the coming two months. He recommends a buy on JK Lakshmi cement. Stocks to be watched out are Bank of India and Gujarat Industries Power Company. Market mood is positive but Anand`s main concern is Left`s move on nuclear deal which may pull down market badly in the near future.
