NBFCs and commodities to drive market rebound: Rohit Srivastava

«If we do make a higher low than the low that we made last time and then manage to move up from there, that would be a very-very positive sign for the overall market,» says Rohit Srivastava, Founder, Strike Money Analytics & Indiacharts.


Yes, we just tend to get happy too soon, too quick when you look at the markets, a mild bit of rebound, and you are really pretty enthused and kicked about it thinking that maybe things are actually turning for better. Once again, a down day now.
Rohit Srivastava: I do think things are turning for better. If you look at the last two-three days of price action in India and across Asia, what you will really witness is that most of the markets are resilient in the face of US-based news flow and volatility, which is partly because a lot of the selling in India and Asia was already going on since the month of October. In some parts of the world, even since June and July. So, many of the markets had already corrected. The US stock market is the last one to correct. Whatever the reasons may be, but if we just put it in the broader light of what has been happening, if there was a correction overdue in the world, it happened in other world markets first and it is happening in the US last and so that is why you are not seeing such a big impact of the US volatility now.

And therefore, we are slowly and steadily building up. Now, because you still have news flow, on a day-to-day basis yes you will get down days like today, even if I say that we have made the bottom at say 21,900-21,800 odd