Market likely to remain range bound with negative bias: UR Bhat

With market currently around all-time highs and festive cheer continuing, what is the outlook going forward?

UR Bhat, MF, Dalton Capital believes the market could remain range bound and there could also be a negative bias because it has reached all-time highs and it is difficult to find reasons for it to go further up.

Moreover, given the quarterly earnings expectations and the international scenario, one could see a mild correction. It would be difficult for to market to make new highs every day without a good reason, says Bhat.

Although the market corrected in between it recovered quickly and there was no justification for why it recovered, says Bhat. So far domestic flows have been dictating the market but one does not know when the sentiment can change, he adds.

For the full discussion, watch video