Delayed tapering, US problems and NaMo wave has given optimism during market rally: Jagdish Malkani, NSE & BSE

In a chat with ET Now, Jagdish Malkani, Member NSE & BSE, shares his views on the market outlook:

ET Now: How are you assessing this market rally making fresh highs?

Jagdish Malkani: I could not have imagined that we will be hitting all time highs so soon. The fundamentals are as patchy as ever; the results have been nothing really to write home about barring a few exceptions.

However, it is this trioka of reasons—tapering postponing, the US problems and the NaMo wave—that has been given a heightened sense of optimism. You can also add to that the rolling of global stock markets, Dow and S&P etc. that have affected it.

Clearly now, it is a game of technicals and of beating earlier highs and closing levels.