New Delhi: The markets witnessed a smart rally at the end of trade on Monday, and took the Sensex up by 100 points, experts feel that volatility will remain in the markets, however they do not rule out a pre-Budget rally.
Ambareesh Baliga of Karvy Stock Broking believes that right now volatility and the pre-Budget rally will go hand in hand.
He says, "The markets are looking volatile but will go upwards, there will be a pre-Budget rally. Regarding midcaps, many HNIs are getting out of them but at the same time money has been raised for them by mutual funds. So there is a tussle."
He adds that, in the next 2-3 months midcaps have chances of falling more.
Technical analyst, Ashwani Gujral says that Nifty is moving in a range, and this kind of sideways movement is needed for a good breakout.
He says, "Nifty is moving in the range of 2950-3050, and we cannot extrapolate yesterday's movement and analyse today. Till market breaks out of this range they will move sideways and such a movement is needed. We need to see how long the Index stocks sustain."
He adds that, tech, pharma and FMCG have the leadership in their hands, midcaps and large caps could continue to move as well.
While India is the third largest car market in Asia, and promises to drive up the ranks soon, manufacturers say that the tax burden on cars needs to be lighter for the industry to move faster.
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