Momentum in markets looks upbeat: Anand Tandon, CEO, JRG Securities

In a chat with ET Now, Anand Tandon, CEO, JRG Securities shares his view on markets:

ET Now: Nifty is down more than 100 points in two days and we have lost more than 2% this week, so based on this week’s price action are you getting a sense that markets are in a mood to consolidate?

Anand Tandon: Momentum seems to be on the way up. Yesterday’s data both from US and Europe were pointing in opposite direction on the one hand you had a cut in interest rate and on the other hand you are getting better figure. So at this stage I do not know whether there is a clear direction to the market, it is near its stop as far as the index goes but it could still continue may be up between another 3% to 2% up or down.