Ways2Capital Closing Update : Sensex Unlikely To Close 2017 Above 30K

After consolidation, the market started inching towards its record highs on hopes of improvement in January-March quarter earnings that will begin with Infosys numbers on April 13.
With this rally, experts feel valuations already stretched and even a lot of midcaps are at peak levels. According to them, the earnings season is expected to be the only driver for the market from hereon.
Hence, the Nifty crossing the psychological 9300-mark is entirely dependent on earnings and that is why the index has been consolidating in a range of 200 points. For the time being, it is least bothered about global cues that are not likely to hit sentiment in Indian markets, experts say.
If earnings figures surprise the Street then only the Sensex can cross the 30,000 level decisively; otherwise it may remain in a consolidation mode for some more time.
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