Taking Stock: Experts discuss this week's trading actions
In this episode of Taking Stock, Aditya Narain, Head - Research, Institutional Equities of Edelweiss Securities, in an interview with CNBC-TV18 took stock of this week's trading action.
In this episode of Taking Stock, Aditya Narain, Head - Research, Institutional Equities of Edelweiss Securities, in an interview with CNBC-TV18 took stock of this week's trading action.
According to Narain, the second wave of COVID-19 has probably had more of a dislocationary impact on demand than is being factored in at this point in time.
“So to that extent, the next couple of months we might see some softening in data or the unlock trade not playing through as aggressively as a lot of people are expecting it to which could put a little bit of a cap on the market,” he shared.
“Could it go a little bit higher? Yes. Could it run away with much greater highs? Always a possibility but you need good consumption data to start supporting that rather than something that is driven purely by markets globally or by corporate commentary,” he stated.
He believes IT numbers that came out during the course of this week have been more encouraging for the market. “That tends to support the broader hypothesis that we had, which is that the global economy has a lot of momentum, the IT services space has a lot of momentum and that should support earnings as far as India is concerned,” he said.
Rohit Srivastava, founder and Strategist of Indiacharts.com, gave his views on the technical for the next week.
Watch the accompanying video for more.
(Edited by : Bivekananda Biswas)
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