Here's why Rohit Srivastava is bullish on NBFC stocks

economictimes.indiatimes.com:

«So, when we start talking of waves, we start talking of psychology. Has the behavioural pattern also started on the charts matching with what the sentiment is really showing because sometimes in an extended market you can get overbought readings that start concerning you but the market continues to chug along and therefore jumping the gun on data alone can sometimes become wrong and that is where you have to be a little careful when you look at these data points,» says Rohit Srivastava, Indiacharts.com.Are you gauging early signs of froth in the market? The volume data, the bulk deals, margin funding is rising as well?While there can be some signs of concern say for example, I will give you one data point.

FIIs have built up long positions of over 90,000 contracts in the futures market on index futures. Now, we have seen the similar kind of number when we peaked in December.

We have seen it a few times before. So, whenever we get this kind of data point, we have to also reflect upon the trends that we are really seeing from a wave structure perspective.

So, when we start talking of waves, we start talking of psychology. Has the behavioural pattern also started on the charts matching with what the sentiment is really showing because sometimes in an extended market you can get overbought readings that start concerning you but the market continues to chug along and therefore jumping the gun on data alone can sometimes become wrong and that is where you have to be a little careful when you look at these data points.