Manishi Raychaudhuri of BNP Paribas Securities on CNBC TV18. The market is likely to be ranged between 13000-16000 for a while, he adds. He believes that it is likely to correct around 10% and that fall would act as a good entry chance.
The market continues to trade volatile, witnessing selling pressure. Sensex is trading at 14887, down 525 points from its previous close, and Nifty is at 4423, down 156 points
House View:We have been saying for last few weeks that market will not be able to go up further. Today the sell off in China, Hongkong and Japan indicates two things, Asian markets were over heated and they need to cool off through some sell off. Secondly with the US and European markets reviving the valuations in those markets have become attractive. So it is Asian sell off to invest to Europe and US.
Wait to 14,200 levels to re-enter the market
Disclosures: No personal holdings
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