Till 5200 is broken, the short term trend remains positive: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, aptartindia.com in a chat with ET Now gives his take on the market.

What do you think is going to happen as far as the markets are concerned?

We have had an eight-week one-way run from a bottom of 4675 to 5320-5330 and now we are worried about a 60-70 point fall in the Nifty. That is quite natural. In fact this has been quite a one-way move and this is the way markets normally behave. Till 5200 is broken, the short term trend remains positive. Talking of candlesticks and a lot of things educating investors, this is a Fibonacci number which is normally a turning point. So if there is some sort of a correction here, it will not be surprising.