Get ready for a range-bound rather than one-way market: Kunj Bansal

economictimes.indiatimes.com:

Kunj Bansal ofInvestment-illiteracy.com, says “when both domestics and FIIs buy, the market keeps going up. When domestics continue to remain buyers and FIIs turn sellers, the domestics absorb them and the market becomes flat. And when the net selling is higher, obviously the market falls and that is happening for the last few days. So, let us see but still if one has to take a view, now we should gradually get into a range-bound movement of the market for multiple reasons.”

Should we be reading at all into today's recovery because it is coming in from an extremely oversold zone? Are we out of the woods or not?
These are always difficult calls to take. Having said that, if we analyse the overall scenario, for six days, except Friday, we were continuously falling and after that at some point of time partly a sentimental correction, partly a technical correction, partly a breather was to come, which has come today, which could be due to multiple reasons. One, of course, was yesterday was the futures expiring monthly which is over now.

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Two, of course, at the end of today, we will know that FIIs have changed their stance in terms of liquidity inflow which was continuously negative for the last few days. So, the good thing that has happened, as we all know, is that while domestics are always net buyers and continue to support the market, till about two years ago or so, it used to happen that when global funds would sell, our markets would turn negative short-term. Now, they do