Expensive valuations and a cautious global mood given the developments in China and the possibility of a third Covid wave may trigger mild profit booking in days ahead
While fundamental analysts have been sounding alarm over high valuations in the equity markets, given the sharp bull run, they continue to be bullish on Indian markets from a long-term perspective
The US Federal Reserve's taper plans and a brisk economic recovery may also prompt the Reserve Bank of India (RBI) to begin winding up ultra-loose policy regime
The Bajaj Allianz Life Insurance CIO expects natural profit taking to happen with rising markets, but does not see any meaningful correction
As the growth rate picks up, the challenges of non-performing assets (NPAs) start subsiding. Private Banks are well-placed to deliver good performance
Prasun Gajri says that while valuations are on the higher side, market correction is likely to be triggered only by a liquidity reversal, driven by global events or any dent in earnings expectations.
Bajaj Finance: The daily chart depicts three back-to-back 'Doji' candles and the first one specifically can be termed as a 'Gravestone Doji'
The diagnostic market in Telangana and Andhra Pradesh, Vijaya's strong base, is projected to grow to Rs 12,000 - 13,000 crore by FY13, reports suggest
Nifty is expected to continue its uptrend and longs should be held on a trailing stop loss basis
Keeping the short-term reactions aside, the impact of any taper really depends on the circumstances under which the US Fed starts tapering, he said.
The immediate supports for Nifty are placed around 16,600 and 16,500 while the levels to watch on the upside will be 16,800 and then 17,000 mark
Nifty is expected to surpass the intraday all-time high of 16,702
Rising commodity prices, he believes, cannot sustainably derail the bullish market momentum
Traders are advised to remain light for a while and the ideal strategy would be to look at the individual stocks than the benchmark index
Market participants have become cautious amid significant valuations and strong gains Sensex has achieved since the start of the year
The consensus earnings for the current fiscal (FY22) are projected to grow by an outsized 35-40 per cent on the back of a relatively weak earnings profile in the previous year, he said
In terms of valuation matrix like P/E or P/BV, many stocks forming part of the broad index would be expensive compared to long-term averages, Sachin Trivedi of UTI AMC said
In spite of a stellar run last year, India's retail participation is around the 4 per cent mark, unlike the US and China, where participation is 32 per cent and 11 per cent, respectively, he said
Considering the historical trend, 'August' month is known for bigger moves. So it would certainly be interesting to see which direction market decided to move in
The markets are expected to remain range-bound and choppy unless the range of 15,550-15,950 is taken out on the either side in Nifty