Brokers Outlook: Market may cross 19,400 on Wednesday

Bhupendra Sharma, vice president, Hornic Investments, said that market closed on a negative note as Sensex closed down 119 points at 19,127 and Nifty was down 33 points at 5,698. Indian markets have performed better than its Asian peers. ``We are trading at a higher level that is why volatility is being seen in the market,`` he added.

Hedge funds are active all over the global markets due to which heavy movement is seen across all markets. Today (November 27) selective buying and selling was witnessed in the markets.

He expects market to open firm on Wednesday and hopes it will cross 19,400 level. Stocks to be watched out are Reliance Industries, IDBI, IFCI, IDFC, State Bank of India and L&T though he remains bearish on Reliance Petroleum.

Prakash Rajdev, chief dealer, Khandwala Securities, said that market was choppy the entire day. There was more of an operator-based movement seen in the market today (November 27), he said. Sporadic buying was witnessed.

He said that FIIs selling has been absorbed in the markets. Now one should watch out for some fresh buying to happen. He expects a weak opening in the next trading session. He is bullish on power and finance sectors.