If EU meet offers some ray of hope; market may move towards 5300-5400: Nischal Maheshwari

Nischal Maheshwari, Head of Research, Edelweiss Securities in a chat with ET Now share his views about impact of EU meet on markets.

ET Now: In the near term, does it seem like the December 9th EU meeting could pave the way for the next move the market chooses to take?

Nischal Maheshwari: Yes. If enough clarity comes from EU, mind you there will be no quick solution to EU problem because it is still a monetary union and not a fiscal union and this is what they are pushing towards to try to become a fiscal union. There will be a lot of problems happening there but if there is some ray of hope then shorts in the market will get squeezed and you may see Nifty heading towards 5300-5400.