Nifty may not breach 8050 any time soon: Baliga

In an interview to CNBC-TV18, market expert Ambareesh Baliga says the market is likely to be rangebound for the next few months.Baliga's views come on a day when the market closed in the red with the Sensex slocing at 26752.90 and the Nifty slipping 22.85 points at 7991.70.

“While there’s nothing wrong with India, given that the commodities have softened, the market may be impacted by global moves, so a short-term correction may be likely in the upcoming few days,” says Baliga who doesn’t expect the Nifty to breach 8050 anytime soon. Watch videos for more.