Markets would hold around 8,000 levels: Pankaj Pandey, ICICIdirect.com

In a chat with ET Now, Pankaj Pandey, HoR, ICICIdirect.com, shares his views on the market.

ET Now: A bit of a step back yesterday. Fundamentally, do you think that this is warranted and maybe a 200-250-point dip will give better entry points?

Pankaj Pandey: If you look globally, considering the central banks' positioning, some liquidity adjustment might happen. But overall, we would like to believe that the markets would get re-rated upwards structurally going forward.

Some of the key positives which are also emerging is that the commodities are on quite soft side and they are looking quite comfortable at lower levels. The benefit of that would be visible or would get incorporated over the next four-five months.

We would like to believe that the markets will head higher. Momentarily, we might see consolidation, which is what is happening. But from a very short-term perspective, we would not like to believe that last week's panic low might get breached. So markets would hold around 8000 levels and shorter term, we might head towards 8450 kind of levels.