Staging a strong comeback after a two-day lull due to the Eurozone jitters, the markets ended the last day of the April futures and options series in the green. After a volatile session on the back of the expiry, the BSE Sensex settled at 17,503.47, up 123.39 points and the 50-share NSE Nifty rose 38.70 points to settle at 5,254.15.
Commenting on the outlook for the next series, Lalit Thakkar of Angel Stock Broking says, if liquidity continues, the markets can be seen inching up by 1-2% per month basis and onc can see the market going to 5,400-5,500 in the next one quarter.
However for Gaurav Doshi, Vice President, Equity Specialist for PMS, Morgan Stanley Private Wealth Management India, putting levels on the Nifty for the next expiry will be tough. “Globally, there are number of events that can play out. Technicals, at this point, do not seem to be very reliable.”
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