Pullbacks may see selling, but F&O inclusions boost long-term outlook: Nilesh Jain, Centrum Broking

Nilesh Jain of Centrum Broking says there could be possibility of some selling pressure if at all we see any pullback, reason being F&O gives you a good opportunity to short the stock so that may have some negative impact, but I see more or less from a broader perspective that is a positive move and if at all we see inclusion of these stocks that will certainly have more addition in term of the numbers, so that is certainly a positive from our long-term point of view.

ET Now: Clearly, we did touch on an intraday basis below 200 DMA. Even not just Nifty, smallcap has also slipped in, though we did not give a closing but what do this implies? There has been a free fall on that day. Many of the caps, 90% of the largecap fell that day. There is no escaping for even the defensive packs like FMCG. Is there DIIs have been continuously buying also, but FIIs have been persistently selling, what do you see on the ground of technical front? Do you see that coming week there could be chances of a rebound? Do you find any crucial support levels on both Bank Nifty and Nifty?

Nilesh Jain: After a fall of two consecutive sessions, yesterday also we saw Nifty managed to defend its 200-day moving average intraday basis we saw a dip below the same. But on the closing, Nifty has given a good close and it has formed a doji kind of candlestick formation. Looks like there could be possibility of a dead cat bounce in the coming week and today was perhaps a better day compared to the previous four-five sessions because the broader markets