Selling pressure likely to stay: Poll

New Delhi: Analysts believe that the markets will open firm on Monday and will continue to remain strong till the F&O expiry on June 29.

While Fed meeting and monsoon will also play an important role in shaping sentiment and the Sensex will face strong resistance at around 10500-10600 levels.

While the downside could take the Sensex to around 9500 levels, which is a good support area they feel. For the Nifty, the support is at 2900 and the upside could take it to 3100-3150 levels.

Ambareesh Baliga, Karvy Stock Broking

Better opening with dull volumes on Sunday

On Sunday though the opening should be better volumes will be dull. The way the Indian markets have moved, there seems to have been some disconnect between the international and Indian markets post the opening.

On a standalone basis I don't see the markets moving up much more from there. There will be a decent resistance that will come in at around 10,500-10,600.

Selling pressure will come at higher levels

Irrespective of whatever happens there would be enough selling pressure coming at higher levels. So any type of positive news or buying can push the markets from here.

Selling from investors who were stuck will not allow the markets to settle down at higher levels.

Downside from here is technically at around 9,500

Downside from here is technically at around 9,500 but I don't see any fall unless the Fed meeting on June 29 springs a negative surprise.

Gaurang Shah, Geojit Financial Services

Markets might be firm on Sunday

Keeping in mind the expiry and the fed rate hike the markets might be firm on Sunday's one hour trading session or on Monday.

Watch out for F&O expiry, Fed meet and spoilsport monsoon

But as we near the expiry it should correct a little bit on the downside and a lot will depend on the Fed rate meet on June 29 and then one can take a cue. Monsoon is also playing a spoilsport. Overall it is a cautious approach as we go forward.

Even if he have closed above 126 points above on the Sensex one needs to take cautious approach as far as going long in the short term.

It will be while before FIIs start buying big in Indian markets

The kind of numbers, which FIIs are talking about, and the kind of money that they are putting in, is very negligible. It may be in single, double, and three-digit which does not seek good volume and our markets have been driven by liquidity.

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Now to drive these markets again we need that kind of liquidity to come thorough. It will be while when we again see those kinds of numbers coming in. It will be while before FIIs start buying big in Indian markets.

The Sensex has a very strong resistance at 10,350-10,500

The Sensex has a very strong resistance at 10,350-10,500 on the upside and on the downside as we correct, 9300-9600 will be the support area.

Rahul Mohindar, Technical analyst

Sunday is the very key day

Sunday is the very key day; we expect around 3100-3150 levels for the Nifty and 10600 for the Sensex.

We could see some profit taking at higher levels

We expect resistances coming in and we could see some profit taking at higher levels in the latter half of the week. Support will be at 10,060 and 2900 for the two indices respectively.

KR Bharat OF Advent Advisories

Markets needed a correction

The market badly needed a correction because it has got far ahead of itself. I think the correction could happen again and those levels could be tested.

Given some kind of stability in terms of global interest rates environment and given ability to push forward aggressively with reform, we will continue the bull run.

Markets might rest at 8000 levels

I think 7500-8000 levels makes this market cheap again. So I do not really see it is going to 7500, I think maybe if 8800 breaks, one might see 8000.

Jyotivardhan Jaipuria of DSP Merrill Lynch

Investors not taking big bets on India

Global markets also have tended to bounce back a bit. India has done something similar. But most people are not taking big bets on India or in any of the market at this stage.

Most people think that this is one of those short-term bounces and we should see the markets testing the lows as we saw two weeks back not just in India but also across the globe.