Markets looked poised for further gains. Expect volatility in the short-term.
The markets would consolidate and stock specific action would continue. I advise caution while investing at current levels and with trading tight stop losses.
Near term direction will be determined by flows from Mutual Funds and corporate results. I expect stock specific activity to continue. Use declines to buy this market as we are in a structural bull run.
In the near term Budget would be the key to the direction of the market. As long as the Nifty does not close below 3000 levels, the bullish trend technically is intact.
Going forward, stock specific movement will continue. It is advisable to buy on declines and book profits at higher levels.
Going forward, quarterly results and assembly elections will dictate the direction.
