Mkt remains sell on rise; Dec series to disappoint: Bhamre

Siddarth Bhamre of Angel Broking in an interview to CNBC-TV18 said the liquidity parameters suggest that one should be cautious on the December series. “One needs to be cautious on the market and not get carried away because 7700 or 7750 has not been breached,” he said.The weekly charts index is suggesting a lower-top lower-bottom formation, he said. He did not expect the Nifty to end the November series around 7900 levels.He cautions investors who are optimistic on the December series that it is likely to be disappointing because with the Fed likely to hike in December meeting, liquidity will be impacted. “So, market on liquidity parameters remains a sell on rise,” he said. According to him although one could also see 8000-8050 levels on the Nifty at the start of December series, those levels should be used initiate fresh shorts.For the entire inteview, watch video