Stock specific action seen: TS Anantakrishnan

ET Now spoke to TS Anantakrishnan, Head, Prime Wealth Management, on his views on the market.

What is your sense of how the market scenario would pan out? We have had three strong closes and the FII figures has also been in the positive. Does this augur well for the market in the near term?

TS Anantakrishnan: Yes, from our perspective, the markets would be range bound. We see the range moving from 4900 to about 5300-5400 and most of it will be governed by mainly from global cues. But as far as the domestic numbers are concerned they are looking very good.

It's a question of whether this risk appetite comes into the markets. Materials and industrial numbers show that and we are quite positive. But I think the index may not afford that many opportunities as much as stock specifics which is where we placing our bets right now.