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Kotak Mahindra Old Mutual Life Insurance Ltd : “Equity market has been trading weak for last couple of days on the back of earnings concern but news of possible review of tax treaty with Mauritius acted as a trigger for a sharp correction yesterday. Globally, markets are nervous due to concerns on Greece. Resolution of these issues over the next couple of days with correction in valuation should provide support to market closer to Sensex of 17,000.”
Angel Broking : The trend deciding level for the day is 17,627/5,277 levels. If Nifty trades above this level during the first half-an-hour of trade, then we may witness a further rally up to 17,940-18,373/5,358-5,459 levels. However, if Nifty trades below 17,627/5,277 levels for the first half-an-hour of trade then it may correct up to 17,194-16,881/5,177-5,096 levels.
Karvy Broking : The US markets have ended on a flat-to-positive note; while the Asian indices are trading with mixed sentiment. Hence, Nifty is expected to open on a flat note. Trade short in Nifty below 5,280 levels, else from 5,300 with stop loss at 5,320 levels targeting 5,250 and 5,230 levels. Alternatively, trade speculative long if Nifty manages to hold above 5,320 for targets of 5,350 levels.
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