The latest analysis and commentary by stock market guru Jai Bala on what is moving the markets today.

The medium-term outlook for the market is bullish but the short-term is equally poised between a pullback from October-January move and a breakout, he said.

“One needs to take a clue from whatever market is providing. If one looks at market’s fall from 10,985 – it took seven sessions to reach 10,500 but only three sessions to get back to that level. This gives you some indication of bullishness underneath this market,” Jai Bala said.

If the markets were to pullback then it would be around 10,334 levels or lower and if they take out 11,200 then they are ready for record highs straight away, he added.

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First Published:Feb 5, 2019 5:02 PM IST