Ambareesh Baliga has expressed his views on current stock market position in wake of Greece crisis and UP elections at our home front. As we know Indian market gets a great movement courtesy budget and stste specific elections. His comments on subject are as enumerated below:
We need to wait and see whether it consolidates in the 5,300-5,400 region or we see a correction to about 5,200- 5,250. We could see a deeper correction possibly closer to 5,000-5,050 or lower. For next couple of days, we need to see whether it slips below this range which I am talking about. There are lots of issues. Greece is still a big issue which we still haven't really been factoring in. Budget is going to be another issue to be looked at. The biggest of all of them is elections, which are still quite uncertain, in UP.