Correction to around 3000 likely: Religare Sec
April 8th, 2009
Amitabh Chakraborty, Religare Securities: The market momentum is likely to continue and I expect the Nifty to go up to 3500 levels ahead of the election results. A correction to around 3000 levels is likely after a resumption of the rally.
Abhinay Jain, Sharekhan: There are still lots of short positions in the market which will give Nifty support around 3100-3150. Traders should buy at lower levels with stoploss. There has been huge buildup in trading stocks like Essar Oil, Nagarjuna Fertiliser and Ispat as momentum and volumes are back in F&O. I like banking stocks.