Market likely to trade in a range: Hiren Samani

In a chat with ET Now, Hiren Samani, Equity Research Analyst, AK Stockmart, talked about market outlook.

Your views on general direction of the market. Are you expecting any kind of a breakout and what is the short term target on Sensex?

Currently, we are cautiously bullish on the markets right now because if you see the results that have come through for the past month have been in line with the market expectations and that is the reason that the markets have been within the range that has been for the past 1-1.5 months. We are cautiously bullish and we see that the markets are fairly valued or probably in the overvalued position right now. So we do not see the markets running ahead much from here.