Market view positive for Thursday

Anuj Anandwala, analyst, KJMC Capital Services said that market had a very volatile session today (Jan. 2), the second day of this year. Banking alongwith few construction stocks were booming. Mid-caps and small-caps rallied at the bourses.

Selling is coming in at higher levels and buying at lower levels due to which this volatility is there. Market breadth and volume remained good. One should be cautious while trading at this point of time, said Anuj.

He expects a positive opening on Thursday, and if market crosses 20,600 level it may further move up. He is bullish on banking stocks and recommends investors to pick select mid and small-cap stocks.

Ashwin Gada, dealer, Networth Stock Broking said that amidst volatility Sensex managed to close up 165 points at 20,465 and Nifty at 6,179, up by 35 points. All Indian PSU banks were in limelight, most of them saw a major upward movement today.

He holds a positive view on markets and is bullish on all Indian banks. Stock to be watched out is IDBI.