Markets will have a rangebound trend: Shrikanth Shetty

ET Now caught up with Shrikanth Shetty, Head, Equity Advisory, Unicon Investment Solutions, to find out his views on the markets.

Where do you see the markets headed going forward?

Short term, we are obviously affected by what is happening on the global front. So clearly it will be driven by global factors. Interestingly, we have seen already a significant amount of correction in metals but we are not sure whether that will bounce back. The only question is whether capital goods or banking which have seen relative strength, can they hold out and my sense is that at least for the short term, they seem to be holding out. The banking results have also been quite good. The capital goods numbers are coming quite strong. So the front line stocks, they should hold out. So my sense would be that it would be a range bound trend but unless the markets collapse internationally, we should see a range bound trend in the market.