Markets will not go below 8000 mark: Gaurav Mehta

In a chat with ET Now, Gaurav Mehta, VP-Institutional Equities, Ambit Capital, shares his views on the markets. Edited Excerpts:

ET Now: Do we see 30,000 coming in by March end? Do you think the current wave will take us to 30,000, and then we are going to peter down from there?

Gaurav Mehta: That is a difficult call. If you look at the downside for the current markets, we were struggling in that 8150-8200 band for some period of time. The downside might not be material. It may go to 8100 to 8000 at max. From that point of view, it is very difficult to exactly time as to when do we go to 30,000. Broadly speaking we stay constructive on equities in general and we think downsides now should be fairly limited.