Nifty may rise up to 5150-5200: Ashit Suri

ET Now spoke to Ashit Suri, Fundamental Research Analyst, JV Capital Services, on his views on the market.

ET Now: What’s your call on the markets? We seem to be just about mirroring what is happening across Europe. So is it too soon to say that we are out of woods?

Ashit Suri: Yes that’s right. So far if one has to take a relative call, our markets have performed very well compared to the other worldwide markets. But because of the uncertainty over Europe and the choppiness that is created every few days, markets are circumspect and the sentiment has been derailed.

People have lost confidence. They are not sure of what is the right time to get into the market and so any time where Nifty has touched 5000 or 5000 plus, we have attracted a lot of selling.

Lots of stocks in the mid cap and small cap space especially have come down almost 25% to 30% which is very unnerving for investors. For traders, it remains a very difficult call because of the choppiness. But yes, it is heartening to see that today Europe, after opening up negatively, has gone into green territory which has been a lot of comfort for the markets.

If a little bit of stability continues globally in the next few days we could see the markets inching up from this level possibly to 5150-5200.