May is likely to be a weak month for the market: Devang Visaria

Devang Visaria, Chief Strategist, Devangvisaria.com in a chat with ET Now talks about the strategies for markets this morning.

This morning are you going to be shorting?

I think this morning we have to watch whether the markets are looking at 5200-5250. We see that as a support area at least for the next two sessions leading to this expiry.

I think May is likely to be a weak month because given the set up that we are seeing across the world markets and the fact that we have not been able to get pass 5350-5400 levels and also that individual stocks in the derivatives basket are tending to gravitated on the downside.

I think May would be a bad month but for this next two days at least I think you would look to hold 5200 on the Nifty. In case you break below 5200 than that will be a severe sign of weakness and you could see good downside below that level.