Market has entered an unchartered territory
Brokers Outlook: Market has entered an unchartered territory Anuj Anandwala, analyst, KJMC Capital Services, stated that market is touching new highs everyday. Today it closed up 141 points to end at 17,291. He says that correction is overdue since long but market is maintaining its positive momentum. Mid-caps and small caps are also participating in the rally. Metal and banking sectors are performing well. Anuj opines that market is in an unchartered territory and cannot be predicted where it is moving from these levels. On Monday, investors should trade cautiously and maintain their cash positions. He is bullish on tech sector. Rohit Mehta, head equities, Dimpi Investments, opined that today (September 28) market traded well during last hours of trading. Fertilizer sector performed well at the bourses. RNRL and Nagarjuna Fertilizers were among the major gainers. He expects mark et markets to go up to 17,500 level and then correction of 800 points can happen. On Monday, he expects market to open with an upward gap but can witness selling pressure in the last hours of trade on the back of October 2 being a holiday. Overall, market momentum is good. He recommends investors to take stock specific actions rather than sector specific. Stock to be watched out is Arvind Mills.
