Banking stocks may bounce back
The market in the short-term is very oversold and could rally or bounce back from current levels to 10530 or higher
Bull market or bear market?
The market in the short-term is very oversold and could rally or bounce back from current levels to 10530 or higher.
Stocks likely to be in limelight today?
Banking stocks that were trashed recently could make a comeback. The index has been falling less against the Nifty recently.
Sectors likely to impact market today?
The fall has been broad-based so any counter-trend move should also be broad-based with no particular sector leadership
Your mid-term view?
Medium-term the worst may not be over as rising interest rates, crude and a rising dollar continue to haunt the market
What drove markets on Tuesday?
The fall continued in Midcaps on Tuesday mostly added to the weak momentum that was already prevalent. The lack of any positive news was another reason behind the falling indices.
Rohit Srivastava, fund manager, PMS, Sharekhan