Don't see markets moving beyond 7700 levels: Ambareesh Baliga

In a chat with ET Now, Ambareesh Baliga, Independent Market Analyst shares his view on markets. Excerpts:

ET Now: What has done the trick for us and what explains this remarkable come back?

Ambareesh Baliga: I am also quite surprised the way the markets have moved up. It is clearly because of the announcements which we had in the last two days post the budget that has brought sentiment change. There will be resistance at 7700 levels. I do not see the markets moving too much beyond that.

ET Now: Some of the stocks that you would be recommending as high conviction ideas.

Ambareesh Baliga: Shipping Corporation is one stock which I will recommend at the current levels, see the stock going to levels of about 80-85 at least over the next couple of months.