We have seen the back of levels like 4700: Devang Mehta

Devang Mehta, VP & Head Equities Sales, Anand Rathi Securities, talks to ET Now on market outlook.

What is your view on the market, it has been a good week for the market, in fact good year good 2012 so far what is your own sense, do you think we have seen the back of levels like 4700?

Yes, in fact as you said it has been a good week of relief for a lot of investors who has seen the pain of 2011. I do not think there is any evidence that the market seem to have bottom out but at least there are some silver linings that are emerging out of the dark clouds at least the food inflation coming down at least the IIP data giving the sense of semblance and some semblance in the global stability.

So I feel there will be market specific cues, there are macroeconomic numbers to crunch for the markets. There are earning season to continuously watch into so I guess market will dictate by seeing these cues.