Brokers Outlook: Market momentum looks good for Friday

Rohit Mehta, head equities, Dimpi Investments, stated that markets opened in deep red in the morning hours of the trade due to weak global cues and selling pressure by FIIs. There was panic seen in the early trading session but eventually market recovered from its morning fall to close down 76 points at 18,526. Buying was seen in the entire Reliance pack during the end of the trading session. Overall market looks good, added Rohit, but volatility would hover till this month`s F&O expiry.

He expects market to move up by 200 to 300 points on Friday. Stocks recommended for trading are Reliance Industries and Reliance Petroleum.

Ashwin Gada, dealer, Networth Stock Broking, said that today (November 22) market was down 400 points in the morning session mirroring China`s Hang Sang index. It recovered almost 350 points in the last hours of the trading session to close at 18,526 level due to fund houses doing some major buying.

He expects market to remain positive in the next trading session. He is bullish on banking sector and recommends Dena Bank and Vijaya Bank for buying.