Brokerage Views; Indian Stock Market shows mixed trend on Tuesday

Brokerage Views; Indian Stock Market shows mixed trend on TuesdayIndian Stock Market opened low on Tuesday as there was selling in blue-chip counters including HDFC, Reliance, ITC and M&M. US Stock markets closed positive on Monday as investor sentiment was strong on back of positive news.

Technical experts from different Technical houses and brokerage firms have different view about the stock markets.

CLSA suggests that stock market may see a pullback as many stocks are in overbought territory. They are also suggesting investors to book some profits at higher level.

Wilbur Ross feels that some more time will be needed for see a revival in US economy. Also, we need to wait for some more time to see positive earnings and positive outlook from different sectors.

Elliot Wave expects the stock markets to touch a high this week and then consolidate. Investors should try to sell at higher levels and book profits.

Julius Baer suggests investors to book profit at these levels. The markets are looking expensive after a very quick run in the past few weeks. The markets may consolidate after a small correction.

Tata Mutual Fund expects the markets to remain strong as global news flow is strengthening investor sentiment. There are some signs of economic recovery. Tata Mutual fund is positive on various frontline stocks.

Brics Securities suggest traders to stay away for markets and book partial profits.

Technical experts at Nirmal Bang Securities feel that NSE Nifty has an immediate resistance at 3715.

Angel Broking suggests that NSE Nifty has a support at 3570 while BSE Sensex has a support at 11880.




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