• Sajiv Dhawan of JV Capital Services said that momentum was clearly in motion and the market sentiment was very good but a lot of people missed out as they exited and booked profits on every uptick.

He said “The trend obviously is long on the short-term, one should probably revise one’s stop losses upwards and even a slip of 2-3% from the current levels as it wouldn’t unnerve the bulls at the moment. He added that the markets were likely to see higher levels. Every dip until the global situation changes for the worst or something negative happens. Locally, you can see all dips being bought into at least for the next week-ten days probably.“

• Technical Analyst , Ashwani Gujral said "The strong rally has confirmed the Nifty’s base at 3900, “from here even if the market does correct to say 4430-4450. I think fresh buying will come in.” The markets can go higher, he said but quickly added that people who got in earlier around 4100-4200 would take off 50% as the market can fall 15% in a week.
• Vikas Khemani, Co-Head of Institutional Equities at Edelweiss Securities said there was renewed optimism. Institutional participation has gone up significantly and the momentum should continue, he said. He advised investors to continue to invest in the markets. He also added “The market will definitely continue its momentum. However, we would like to see the markets consolidating somewhere around these levels because I think one way, a run up or a strong moment is not very good.”

source: MC