Expect market to make a new high but not very far from where we are: Anand Tandon

In a chat with ET Now, Anand Tandon, Independent Analyst, shares his views on the market outlook. Excerpts:

ET Now: It has been a good session for the market. We are nudging closing highs for the indices. Your views?

Anand Tandon: Yes, there is not much negative news right now on the horizon. The market mood is currently positive.

ET Now: Would market consolidate at these levels or there could be an event driven breakout coming in at this point?

Anand Tandon: Given the current state, I would not put it past the market to actually make an attempt at a new high. Whether that will sustain or not is a different issue. That will remain somewhat of a challenge because the numbers that we are seeing in the corporate earnings does not have the legs to take the market up too far from where we are. However, that does not mean that we cannot go up another 5 per cent.