Alex Mathew, Head of Research, Geojit Financial Services has stated that stock markets, on Tuesday, closed marginally lower on weak worldwide signals and amid worry of high inflation because of strong crude oil prices.

Crude oil was strong above $108 and is looking to attain a target of $112 hence was supporting the bears.

He said that the overall trend will remain range bound today, and a breakout beyond or less than 4735 - 4635 levels is very important. It will give a new way to the stock market. Volumes in the F&O section will remain low and the PC ratio is also falling suggesting choppiness in today’s trading session.

It is wise to make long positions on Nifty if Nifty futures trade higher than 4735; then strong short covering can be witnessed, and Nifty futures may test 4785 and 4831 levels.

Bhupendra Sharma, vice president, Hornic Investments told that the stock at markets, on Wednesday, closed down following the infirm worldwide markets and concerns over high inflation figures. Sensex closed down 169 points at 15557 while Nifty ended at 4709 down by 51points.

According to Mr. Sharma, if Sensex crosses 15,800 level, then markets may once again touch 16000 to 17000 in the short run, though any CRR hike by RBI may again pull markets down. He expects markets to remain positive today (Wednesday).

Stocks to be watched out today include Yes bank, L&T, Welspun Gujarat, GIPCL, Torrent power, Sunil Hi-Tech and mid cap pharma stocks like JB Chemical and Glenmark Pharma.