The benchmark indices closed near the day's low, which is a sign of weakness. The Nifty fell 13 points or 0.25% to end below the psychological 5,200 mark (5,189). But it still trades above the 200 day moving average, which is around 5,135, and is considered to be a long term support for markets. The Sensex declined 20.62 points or 0.12 per cent at 17,130.67. Analysts said the sideways trade is likely to continue.
Myiris has collated views of experts on how the markets will perform tomorrow, April 27. The same are as follows:
Amar Ambani, Head of Research, IIFL:
The undertone remains cautious as FII selling continues to put pressure on the market sentiment amid lack of clarity on the GAAR issue and the Vodafone tax controversy. Sticky inflation, widening twin deficits, policy impasse and global economic slowdown are among the other headwinds confronting the Indian markets. The 200 DMA has now become a critical point for the Nifty. It is placed at 5,132 levels. A close below the 200-DMA could aggravate the selling pressure.
Shanu Goel - Sr. Research Analyst-Bonanza Portfolio:
Tomorrow results of Siemens, Axis bank and Hexaware are due which could influence the short term trend of the market. Apart from the domestic cues, global events and news will continue to influence the market sentiments. Downside support exists at 5,140-5,120.
Alex K Mathews, Head Technical and Derivatives Research, Geojit BNP Paribas Financial Services:
On the sectoral front, we saw selling in power, realty, auto and PSU while the gains were seen in IT, FMCG, Technology and metal stocks. Going forward Nifty will face resistance at 5,210, 5,231 and 5,275 levels while the support is there at 5,173 and 5,148 levels. Being the first day of May F&O series, we may see fresh buying tomorrow.
Milan Bavishi-Head Research-Inventure Growth & Securities
While the sideways movement or the consolidation phase in the Nifty continues. The next level of resistance at 5460 and on the downside 5,150-5,130 remains the support.
Sharmila Joshi-Head Equity, Fairwealth Securities
Despite this month being such an eventful one with RBI monetary policy, S&P outlook news, the FOMC meet Nifty had a very lackluster April series expiry. We expect the markets to remain range bound waiting for a trigger to make an upside move. Market participants would be closely watching the US weekly jobless claims and the pending home sales index this evening. The support for Nifty comes at 5,100 level and the resistance at 5,235.
Sahaj Agrawal, Associate Vice President - Derivatives Research, Kotak Securities:
Nifty April expiry remained flat around the 5,200. Few pending positions in the Nifty 50 index components led to a flat expiry. Mid-cap stocks witnessed selling pressure on account of pending rollover positions. For the may series we expect the index to trade in the range of 5,100-5,500. Initially some consolidation is expected in the range of 5,100-5,200 which should be followed by a rally to 5,500 levels. We remain positive on the Auto (4-wheeler) and Information Technology space. Banking stocks are expected to witness some selling pressure which can be used accumulate long positions. Sustain below 5,050-5,100 will result in selling pressure in the broader market.
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
No comments:
Post a Comment