Markets may cool off as they have already run up sharply in a short time: Rahul Sharma, Equity99

Domestic markets BSE Sensex and Nifty 50 came off the day’s high in the afternoon trade. Both Sensex and Nifty gave up record highs of  59,737 and 17793 respectively and turned flat. Rahul Sharma of Equity99 spoke to Money9 to share insights on markets.

“We have seen really good sessions, if you see last week’s trading sessions for Nifty, we almost rose around 400 points. So, after this sharper run in just two or three trading sessions, this kind of decline was expected and I think it’s good because on the technical charts or on the fundamental analysis markets look overvalued. Wherever you are seeing good profits, just secure it before goes down because at this current time things are very much volatile, speaking about the midcaps today, we are witnessing around 1.5% decline”, he said.

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