5800 remains a buying zone on the downside: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views about the market.

ET Now: What is your call on market today?

Mitesh Thacker: We have been looking for some kind of range bound action. We also had some kind of news flow affecting the selling. The idea is that we are extremely overbought and we might not get immediate upsides. On the downside, 5800 remains a buying zone. Today, the dip was used by a lot of people including us to generate some buy calls. We have been clearly trading on the long side.