Indian markets are not in danger zone: Deepak Shenoy, Capital Mind

In a chat with ET Now, Deepak Shenoy, Founder, Capital Mind, gives his views on the market.

ET Now: Seems like we are not going to be spared in this global wave of weakness today.

Deepak Shenoy: Yes, we are not going to be spared. The US markets have actually turned negative for the year and we have seen a lot of volatility...for us to be spared of that but I still think we are not in danger zone. I think We are still less than 10 per cent from our peak. We have seen a lot of carnage over the weekend. For example in Dubai, we have seen some Asian markets being weak today.

However, for the market to be called a dangerous territory, we need to fall a lot more than this. Since we know this is a results season, we should see a lot of news coming in. So I would actually be hesitant to say that this is a big bearish move right away just because of what happened last week.