Market
Mumbai - The Indian markets are likely to stay choppy this week, amid lower volumes, unless domestic institutions and foreign funds purchase aggressively, which is unlikely, analysts said.
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According to the analysts, despite the Sensex closing in the green on Friday, the outlook remains bleak and investors, not convinced about a turnaround, are likely to play safe.
"Traders are directionless at current levels. Volatility will continue in the coming trading sessions," said Aniket Dharmadhikari, fund manager at Krug and Bordman Advisory.
"There are no real positive cues to take the market significantly forward," said Devang Shah, vice president of institutional sales at Sushil Finance.
"Investors will play it safe...the market will be rangebound," he said.
"I won't play with the current rally. The short covering that we saw today was chiefly led by players' unwillingness to hold on to their shorts as markets will be shut for two days next week (Tuesday on account of Id-e-Milad and Wednesday for Holi)," said Sukrut Sathey, analyst at Horizon Capital Advisory.
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