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Mumbai: After a below par performance in the last two weeks, analysts are predicting another month of volatility for the Indian bourses, despite their firm belief in its long-term potential.
The Nifty may see a maximum of 5 per cent downslide, Angel Broking's Managing Director Dinesh Thacker said.
"Next week it may be volatile, but sure, it will consolidate in the coming months. Nifty may not go below 4,600 and the upside volatility will be up to 5,000 points," Thacker said.
A downward trend on the bourses was visible only "due to profit-booking at lower levels," Thacker said, adding the "market fundamentals are good."
Religare Equities' President Amitabh Chowdhary opined that movement in the Nifty in November would likely be in the range of 4,500-5,000 and that of the Sensex between 15,800 at the lower level and 17,000 on the upper.
"The Dollar is weak now. But if it regains power, we may see a higher outflow from the emerging markets," he said.
Despite the selling-off of future positions for profit-booking on declaration of Q2 FY 10 results, open interests have not come down, Kejriwal Research & Investment Services Director Arun Kejriwal said.
"The open interest has not come down as compared to the open interest in the beginning of October. Due to this, the markets may again remain weak," he said.
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