We expect a marginally positive opening for Indian markets and a choppy day. Most players will prefer to stay cautious due to uncertainty over the outcome of elections
Some experts are suggesting caution as valuations have run up too fast without a significant change in fundamentals
Indian stocks might open higher but might give up their gains as the trade progresses in the day. Most of the market men believe that Indian equities might be nervous ahead of the election results in the later part of the week. Expect for a positive opening on the Sensex but stocks might wilt towards the final hour of the session
There is a strong possibility for the banking stocks to outperform other sectors in today's trade. We recommend investors to book profits in the banking stocks on early gains today.Tea stocks like Harrison Malyalam and Jayshree Tea have shown a very big move on Friday and we do not see more steam left in these stocks. Exit these counters.
We recommend a 'Sell' on TVS Motors at the current market price of Rs 42, as the valuations look stretched at these levels. One could stick with Hero Honda and Ashok Leyland, if you want to stay invested in the Auto sector. We also recommend investors to book profits in Realty and metal sectors, as these stocks are likely to correct in the coming days.
The markets are nervous and might be volatile in the coming days. We believe that the current market scenario provides short sellers with a short term opportunity to make some decent money. We expect a positive opening, but doubt that the trend will continue for the rest of the day. Bears have a strong chance to pounce at anytime as markets look jittery