Markets are effectively in a slow uptrend: Deepak Mohoni

In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com, gave his views on markets trends. Excerpts:

What are the levels that you are working at with the index right now?

We have gone into an extremely stagnant phase. It is now third week running that we are hovering around these levels. I would say there is perhaps a hint of an upward bias though because perhaps more stocks are emerging winners over this three week period than losers, so let's say some segment of the market is rising not dramatically, so we are effectively in a slow uptrend, which has stuck in quicksand.