'Mkt oversold in near term but valuations still not cheap'

Indian stocks in the very near term look a bit oversold given the sharp rundown in the past few weeks, believes market expert Anand Tandon, who said he expects the market to move with a positive bias for the next few days.

In an interview with CNBC-TV18, Tandon, however, said that frontline shares still did not offer any margin of safety and it would be still some time till they were in the "buying range".

"For now, the market looks reasonably expensive," he said. "But in the broader market, you may get some chances to buy."

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