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On the domestic front, if the markets start to believe that there is an increased possibility of a lack of policy continuity, then the markets could correct, says Nishit Master while pointing out towards the risk factor.
Amnish Aggarwal of Prabhudas Lilladher continues to be overweight on banks, healthcare and capital goods, while being underweight on Consumer.
Consolidation is pending as earnings are yet to catch up with valuations, says Sharma who expects financial services to gain as the economy expands. There is a huge scope for value-added services in the sector, he says
Oberoi Realty has seen a consolidation breakout. The stock has formed bullish candlestick pattern on the daily charts with above average volumes, and now traded above all key moving averages.
Looking ahead, immediate resistance levels for the Nifty are observed at 22,500 followed by the 23,000 mark. On the downside, crucial support levels are identified at 21,850 and 21,530