If mkt retests 4720, bank Nifty may make new low: Manghnani

In an interview with CNBC-TV18, Anil Manghnani of Modern Shares & Stock Brokers talks about his reading of the market.

Below is a verbatim transcript of this interview. For complete details watch the accompanying video. Q: Would you give this bounce back more strength considering the way global markets have been moving? What kind of targets should one set on the index?
A: I am not surprised. If it can hold that 4,890 major retracement level, it could grind up. Maybe I got it wrong on the grind up but things have been volatile so no surprise seen, the movements are sharp across the globe. But we are coming again to that key level. I know a lot of people are talking about that 5,200 level. It is a major target