Mkts likely to open strong: Poll

Mumbai: Analysts believe that markets will open strong today on the back of good closing on Friday.

While 3,180 is the immediate resistance on the upside 3,077 remains a good support level. One can go long on the Nifty with a stop loss at 3,080.

Vijay Bhambwani, Technical analyst

Monday's opening should be positive

Monday's opening should be positive. However, one cannot rule out the possibility of some selling pressure at around 3180 levels on the Nifty.

We need to see if 3180 can be surpassed on a conclusive basis. That seems to be the primary target for the next week.

3,077 would be the immediate support on the downside

3077 would be the immediate support on the downside and 3180 would be the resistance for trade next week.

Crude oil price will be the primary factor affecting the course of the markets

Crude oil price will be the primary factor affecting the course of the stock markets going ahead. As far as the interest rate scenario is concerned, it is behind us, at least for now.

Dipan Mehta, Member, National Stock Exchange (NSE)

Indian markets seem to be settling

Indian markets seem to be settling now that the Fed rate uncertainty is behind us. It is now very clear that we are at the end of the interest rate hikes that were started to stem inflationary pressures in the US.

A lot will depend on corporate numbers

Though I am very positive on the markets a lot will depend on corporate numbers. If the numbers are good the confidence, which is just about coming back, will be bolstered further. This will lead to a lot of companies coming back to markets again to raise money for expansion.

This may not revive the primary markets immediately but maybe three months down the line companies should again start raising money via the IPO route.

Corporate earnings for the first quarter of FY07 along with their guidance for the rest of the year will play a decisive role in deciding the course of the markets now.