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News18 » Videos » News18 Shorts

Don't beat the blues with junk food

08:55 AM September 11, 2006
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Mumbai: The Sensex was up 64.80 points at 11918.65, and the Nifty was also up 16.90 points at 3471.45. So what can one expect from the markets in the next week? Jaideep Goswami of HDFC Securities says that next week markets would test 12,000 levels. "Next week market would like to test 12,000 levels. For two consecutive weeks we have reasonably strong performance by the market, mostly led by frontline stocks but also suitable participation by some midcap stocks," he says. Goswami thinks that the market is turning stock specific and will face some resistance. Still he remains hopeful. "The immediate target will be to see whether market has the requisite strength to breach 12,000 level or not. If it successfully does, and going by this week’s closing I would tend to remain more hopeful," he says. He thinks that coming on the back of last week’s strong showing, last week’s positive closing is a good factor for the near-term outlook of the market. Sandeepa Arora of India Infoline is also looking forward to seeing the markets breach 12,000. "We will break 12,000 maybe not today, not tomorrow, but maybe in the next couple of weeks, because it looks like the momentum has been building up, backed by genuine buying," she says. Notwithstanding her concern about the absence of the kind of retail participation as seen in May or June, she feels that "fund-based buying and the rally should continue".

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