Mumbai: With markets at the 13,800 level, analysts now expect it to reach the 14,000 level soon. Factors like good corporate numbers, strong FII flows and steady world market will contribute to this magical figure which according to experts can even be witnessed by early next week.
Sumit Rohra, Antique Stock Broking: Market should touch 14,100 by early next week
The markets have closed on a very bouyant note on Friday purely reflecting the bouyancy in the economic numbers which came out on Thursday. Factors like good corporate numbers, strong FII numbers and steady world market are contributing to the markets. Market should touch 14,100 by early next week and this is the time when one needs to be a little watchful. But however, markets continues to head upwards. One will see more sectoral participation now.
One can continue to be long in the market and ride the momentum on the upside. December will be a good month, but one should be careful in January when there will be a little bit of uncertainty before the budget.
On Friday, the auto segment participated despite underperfoming for quite a while. In the auto sector, Maruti continued to head upwards from the current levels. If Tata Motors sustains above Rs 845, it can move up.
One can definitely watch out for midcap stocks as well. Midcap should look up now. My top pick in that will be Titan Industries. The stock has been consolidating for quite a while and is ready to move up from here. It has the potential to scale the Rs 1,000 mark.
Zee Telefilms and Hinduja TMT look good as well. In the real estate space I would look at Bombay Dyeing and Mahindra Gesco because the sector is hot. Punj Llyod has done well and I continue to back that.
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The travel and tourism theme looks to be quite exciting. I have got sectoral themes in terms of investment. I like hotels like East India Hotel and Hotel Leela.
Midcap sector has started participating and will continue to participate because valauations are very cheap and there is potential in these companies. Micro Tech is a classi example of that. The stock was languishing was nearly three to four weeks and from Rs 220 it went up to Rs 300 in four days. The index have not rallied the way the others have and so smart money will move into the midcaps.
Upendra Kulkarni of Fortress Financial: Markets are in for a good time
Overall sentiments of the market is quite strong. Markets are in for a good time as feel good factors remain the same. Results have been good, cash flow is good, domestic consumption is good, industry is improving exports are better; so there is no reason to worry.
However, markets have gone up substantially, so there is a possibility of some correction. Typically short-term correction are a result of selling by FII or any other fund on a particular day. External factors like slowdown in the US economy or shoot-up in oil prices may also upset the applecart.
Gaurang Shah of Geojit Financial Services: Short-term Nifty traget at 4,040 - 4,050
Both the indices have given a very strong close today so Monday morning we should see some upside. We have entered the new F&O segment with very good participation as far as rollovers are concerned. Market breadth is good and turnover was fantastic. On the Sensex we should target 14,100 - 14,200 and near term target for Nifty would be 4,040 - 4,050.
However, at these levels one would suffer from vertigo; so there is a kind of nervousness, which may result in selling pressure. But if you look at the liquidity inflows, particularly from FIIs and MFs, we are bound to see a much higher side. At the same time it would be very stock and sector specific movement.
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Midcaps should also participate now because there are a lot of retail investors who have got stuck with midcap and smallcap stocks and there will be an opportunity for them to come out. So there will be a lot of churning happening soon.
S Naganath of DSP Merrill Lynch: Time to be more selective and cautious
Certainly, market action has been very spectacular considering that we are up almost 55 per cent odd since the lows we saw in June. The macro data continues to be very encouraging whether it is GDP coming in at 9.2 per cent or inflation moderated about 5.5 per cent. But looking at global cues and the rally in many other markets around the world since May-June, I would argue that it is time to get a little more selective, a little more cautious.
May see more upside in current rally
The current rally earlier might still have some room to go given that the momentum is strong, liquidity flows are good, corporate earnings numbers have been very good and macro data continues to be positive.
Prabhat Awasthi of Head of Research, BRICS Securities: Sharp sell off not on the cards
There was a huge amount of leverage in the market at this point in time, which is clearly absent from the market. Domestic yields have also come down quite a bit. So there has been genuine reason for the market to go up. Even interest rate yields have completed receded in the background. A sharp sell off is not on the cards. What is likely is that the market, if it comes down, it probably will be a 5-10 per cent correction from the current levels, if global cues turns negative.
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