Saurabh Mukherjea, Head, Equities, Ambit Capital has expressed his views on stock market and his views are as appended below:
On 04 Jan 2012, we made two calls 14,500 in Q1 and 18,000 over the course of the year. Clearly, the 18,000 call has worked out better than the 14,500 one. I think this month, we will continue seeing the market grind up. The ECB announcement on Friday that there will be another bout of QE on February 29 will lend a lot of support, especially since the ECB said that the end of the month QE announcement will be similar in size to December 22 one. That sort of announcement will lend a lot of support to risk asset classes globally. So I think this month the market will continue grinding up. The problems kick-in in March. Obviously, key set of political catalysts - RBI rate announcement and then obviously the budget. So March is going to be a far choppier. This month I think the broad direction will continue running upwards. So if you are a speculator, if you have short-term profits in mind, I don't think you will have that many problems in February. March is your month of pain I think.