Sub-5000 would be an attractive level to enter: Orpheus Cap

Last week was bad for the Indian market. Global cues are not looking good today. The Nifty is now hovering around the 5,000 mark.  

However, Mukul Pal, chief executive officer of Orpheus Capitals seems a little optimistic. “We do not see much fall happening, may be another week or so. There is a lot of strength in the market. To expect India to keep on falling is something more on the negative sentiment side than actually,” he asserts. According to him, India has underperformed many of its peers around the world. “There are less of structural issues in India compared to what we see around the world. I think this relative underperformance that India has seen around the world should really see a change of trend. The Nifty sub-5000 should be an extreme low price for us to get in,” he adds. Also read: Don't short Nifty now, advises Sudarshan Sukhani Below is the edited transcript of his interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying video. Q: How is it looking, when you look at the charts technically both for our market and whether you see a bit of a downfall coming in the global set up as well? A: Actually, we are quite long on the prices. We do not see much fall happening, may be another week or so. There is a lot of strength in the market. To expect India to keep on falling is something more on the negative sentiment side than actually. Q: What specifically is indicating relative strength to you? Are you talking about sectors within the market or generally that global markets seem more supportive and India should bounce back? A: In terms of the market structure itself, India has underperformed many of its peers around the world. There are less of structural issues in India compared to what we see around the world. I think this relative underperformance that India has seen around the world should really see a change of trend. The Nifty sub-5000 should be an extreme low price for us to get in.