There is still a bit of a hope for revival: Deepak Mohoni, trendwatchindia.com

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now, speaks about the market outlook

What is your call on markets right now?

Individual stocks would provide some opportunities here and there but the last 2-3 days even individual stocks are changing direction everyday. So it is pretty much a directionless market. Friday session was pretty promising. Yesterday’s session was not as bad.

Friday’s session was good you might say, so perhaps there is still a bit of a hope for revival here once global markets stabilise. Level to look for right now is do we get past Friday’s highs, that would be a clear uptrend and that makes about 18725 or so on the Sensex.

That is the level to look for. We are still 300-400 points below that. I do not think that would happen today but if the markets stabilise, we have a pretty decent chance of getting past that.