Indian markets can bounce back on positive triggers from US & Europe: Ajay Argal

Ajay Argal, Co-Head, Equity, Birla Sun Life Asset Management Company, in an interview with ET Now talks about the markets.

With respect to the global market indicators, do you expect any positive triggers coming for that will possibly impact the Indian markets going forward?

From a short term perspective technically, the markets were a bit oversold. So that is what we were seeing that some short positions had been built up in the Indian markets as well on the back of anticipated bad data, especially from the European markets and as that thing has played out and now there could be data points coming out of Europe as well as US which could be positive from a short term perspective. So we could see a technical bounce back and that is what we are witnessing and we could see some more of that.