Brokers Outlook: Bulls return mixed trend to be seen on Monday

By CROW -
Bhupendra Sharma, vice president, Hornic Investments, said that today (August 31) market remained strong and closed firmly. Market has now slipped into bullish zone as it has breached the current resistance level of 4,325. From here onwards, it is expected to touch new highs. Metal and steel sector performed well today. Major gainers include TISCO and Reliance Industries.

According to him, NSE Nifty may cross 4,500 level on Monday, mixed trend could be seen. Heavy weights like Reliance Industries, Reliance Capital, TISCO and Ranbaxy might lead the rally. Midcaps will also continue to perform. Among mid-caps he is bullish on Prakash industries, Kaveri Retailing and vaibhav Gems.

Ashwin Gada, senior dealer, Networth Stock Broking, said that today (August 31) market was good. It closed up 197 points on the back of good Asian markets. Broadbased buying was seen in the market. Mid-caps also traded well on the bourses. He is bullish on the market and expects it to move further up by 100 to 150 points on Monday. He also added that by the end of the next week market might touch 15,700 to 15,800 level. Banking sector is likely to perform well. He recommends IFCI for the next trading session

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