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economictimes.indiatimes.com / 1 year ago
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economictimes.indiatimes.com / 1 year ago
NBFCs offer strong entry point after recent pullback: Rohit Srivastava
«Both the daily and weekly RMI momentum indicator that we use are giving bullish signals. So, there is no doubt right now that the markets are going to weaken further,» says Rohit Srivastava, Founder, Strike Money Analytics & Indiacharts.
With this new series, a lot of volatility already kicking in. There are big events lined up, Trump announcements as well as RBI monetary policy. But overall, how is the trend shaping up for you when it comes to benchmark indices?
Rohit Srivastava: So, if you are just looking at the Indian indices and try to discount it without letting too much of the news flow affect you, then the trend is pretty much positive.
Both the daily and weekly RMI momentum indicator that we use are giving bullish signals. So, there is no doubt right now that the markets are going to weaken further.
In fact, we have sort of retraced around 50% of the gains that we had seen in the previous week where it had almost rallied a thousand points and that is a pretty good retracement, which puts us at a very good place in terms of risk-reward to the upside.
So, right around the event, we have already seen markets correct, discount, what may be really happening and, once, the news flow is behind us, you should probably see a lot more improvement in the market is how it is really shaping up right now.
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There could be improvement in the market post the announcement. So, probably the worst is being priced in, as you mentioned. But let me come to you and ask you about the reversal that we are seeing in
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