Mkt Outlook: Gains likely at the opening bell

Following a strong upmove and heavy buying by the FIIs in the derivatives on Friday, the Sensex is likely to open higher today.

Hurdles for the index are at 10,630, 10,740, above which the index could rally to 10,830. On the downside, the index could drop to 10,275.

Market analyst Bharat Momaya expects market sentiments to improve dramatically following the major correction on 22nd May. Monsoon remains the major trigger for rise of the Sensex.

He cautions the F&O and day traders, It will be better to abstain from speculating through F&O market lest it should turn out to be very risky. Sudden spurt or fall in Sensex may be chief cause of worry for speculators. Likewise day traders should remain cautious as market will undergo wild movements in days to come.

'Term Investors should now focus on undervalued stocks available in the market for fresh investments. Stocks with high PE ratio should be swapped with low PE ratio stocks', he added.