It was a jerky session on Dalal Street. After a hopeful beginning, the indices came below a session of profit booking and trimmed off the majority of the day’s gains. The Nifty ended flat at 4,620 points after gaining just 1.40 points, whereas the Sensex ended the day at 15,795, up 63 points.

The stock markets closed on a flat note after a quite impulsive session. The boarder markets ended in the red with a weak breadth. In the F&O section, the return was the highest ever at Rs 64,281 crore.

IT, capital goods and IT stocks - Reliance Energy, Satyam, BHEL, NTPC, and HDFC Bank ended the day in the green, ended higher. But, selling pressure was seen in auto, FMCG, and pharma stocks.

While commenting on the excitability in the market, Rajat Bose of rajatkbose.com stated, “If one were a bullish Traderinvestors should learn to live with this volatility. This volatility would continue. We have seen this kind of volatility earlier. I would not like to go short in this market until I see the Nifty breaching 4,585. As of now, there is no point in being long in this market below 4,585 levels. On the other hand, if the Nifty were to trade above 4,640, then I would be expecting 4,672.”

Ambareesh Baliga of Karvy Stock Broking thinks the stock market may touch 16,000 anytime soon.

“It looks like the market is still on its way up. I think 16,000 is possible anytime now, may be in the next one or two days before expiry. Till the expiry, we are in the safe zone. It could be volatile but the markets are clearly headed upwards,” Mr. Baliga added.

Head-Advisory Desk, BNP Paribas, K Ramachandran said the Indian stock market seems to be showing delayed action, given that it has been underperforming global markets for a long time.

“There are areas of concern on the current uptrend and one has to be pretty cautious as the market rally has been very narrow. There are reasons to believe that probably the liquidity surfeit that we have seen is peaking at this point of time. There are definite risks that the tide may turn and the Indian markets may join the rests of the pack in its corrective phase,” he added.