Our market fell quite a lot over the last two sessions. So, the hope is that even though it might be temporary, we will get a pullback now in the make because it looks quite oversold after the price performance in the last 48 hours, said CNBC-TV18's managing eidtor, Udayan Mukherjee.
The market did not have a good day and the closing was not great, below 5700, high volumes, poor breadth with the mid-caps and small-caps getting completely clobbered today. There is a probability that the market might be getting oversold.
There is stabilisation in the global markets, but whether this is a pullback or a temporary hiatus is still to be seen, says Udayan Mukherjee, Managing Editor, CNBC-TV18.
Stocks are at their most oversold levels since the doom days of the financial crisis and may be due for a rally, according to one measure.