Sanju Verma, MD & CEO of Violet Arch Capital Advisors is of the view that one may short YES Bank and Axis Bank.
Sanju Verma continues to be disappointed with Infosys despite its 4 percent volume growth sequentially. “At this point the one company that we continue to like is HCL Tech. I also like Tata Consultancy Services (TCS),†she adds.
The IT sector does not have a very smooth run ahead, feels Sanju Verma, MD & CEO, Violet Arch Capital Advisors. She also believes the market overtly reacted to the Fed talks on QE pullback.
Sanju Verma of Violet Arch Cap, in reaction to volatility index India VIX touching a high of 19.85 on Wednesday, says that this could be an indication of trouble at the bourses in the short-term.
India VIX has been making higher lows as well as higher highs. The lower end of the India VIX has been trading in the region of 13-14, and the higher end has been trading in a band of 18-20. If the India VIX were to breach 20 on the upside, in the intermediate to short-term there could be more trouble.
Technical analyst Sudarshan Sukhani of s2analytics.com believes that the steep fall in the market is normal and Nifty will see some support at 5,500.
In an interview to CNBC-TV18 Sanju Verma, managing director of Violet Arch Capital said Indian equities look overvalued.