Stock Market Back In Action; Experts Still Concerned

by khalid on 08/09/2011 · 2 comments

Indian stock markets saw a high day today when Nifty gained some 60 points and Sensex hit two centuries.

At the end of the day, Nifty had reached 5,124.65 and Sensex ended up at 17,049.69 with Reliance, NTPC, HDFC Bank and Wipro as top gainers and ITC, Infosys and M&M as top losers.

Despite a boost in the market, experts are still apprehensive. Many experts believe that unless Nifty crosses the target of 5,200, all is not well and when it does, the next aim would be of 5,330. But lest it fails to touch the mark, it will come down to 4,800 levels again.

Some believe while adding that ‘No Hike policy’ from RBI should get the market back to its healthy days.

Reliance is the strong pillar today as the target for at least the next 18 months is Rs. 1350 to Rs. 1400. Already some predictions have been made that the risk factor is still persistent because the macro environment is still weak. A new development might be around the corner in the stock market as durable and continue to prosper if the RBI backs the change.

Bell the Bull says:  It is not completely sure of Indian stock markets of now and expectations are  that the valuations will come down gradually. Also, it is a possibility that the capital entering the developed bluechip equities will reduce the pace of ongoing progress. 

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