Nifty may slip to 5070 amid global volatility: Kedia

Sushil Kedia, president of ATMA spoke to CNBC-TV18 about where he sees the market going and what the charts are now saying on specific stocks. Check out his comments.

Below is part of the edited transcript of the interview. Also watch the accompanying video. Q: What did you see in the Bank Nifty, did it look like a breakout and how would you trade that index now?
A: This is a bright spot if at all anything is left on Nifty at this point, and not merely because of the CRR cut that came post market, in fact, on Friday itself, a number of banks had closed positively and fairly strongly. About 11,300 is what is possible, but that gets triggered only if we go and cross pass the 10,786 number and that is what corresponds to the 5,430-5,440 area on Nifty. Let