Bullish on unlock theme over next few months: Likhita Chepa, CapitalVia Global

Indian benchmarks extended losses in the early afternoon session, with both Sensex and Nifty trading with cuts of over 0.8%. The BSE Sensex is currently trading around 58,600. Domestic sentiments were impacted by weak cues from other Asian markets. Likhita Chepa, Senior Research Analyst, Capitalvia Global Research spoke to Money9 on how should investors read into the situation.

“Traders were cautious, as government fiscal deficit touches 31.1% of budget estimates at the end of August. Our research suggests that the market may extend its losses fuelled by concerns surrounding global economic recovery and persistent inflationary pressure in the United States. If the market can sustain the support level of 58200, we can expect the market to trade in the range of 58500-59000”, she said.

She believes going forward, one must focus on the unlock theme for higher profits.

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