Nothing alarming about Nifty level: Deepak Mohoni, trendwatchindia.com

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Nifty.

5300 is still being held by the Nifty which is not too much of a down dip. But going forward for expiry do you think we will have a substantial close above that and may be even 5400 in the annual?

We have kept in very close to the last market top that was 5400 and a bit and today’s reaction, though it’s over 100, it is nevertheless in keeping with little bit of a global reaction. So at the moment there is nothing very alarming about it. It has to see whether it gains downward momentum from here, that’s the only look out. If we see the market bouncing back again tomorrow and day after, that means the uptrend is still very much in that.