The way market has gone up, a correction is due anyway: Sonam Udasi, IDBI Capital

ET Now: What do you expect, there is a key event and the market probably factoring in 25 bps cut coming in? Assuming that it comes in only at 25 bps and assuming that the results do not show a positive surprise in the latter half of the earnings season, do you think we are headed downwards before we head higher if at all?

Sonam Udasi: In my view, irrespective of whether 25 bps comes or higher number comes, the way the market has gone up, there is a correction due anyway. So while we may have a bump up if there is a 50 bps cut on that particular day, I do not think market momentum will be sustained beyond a point. We have put a doubt and there is a thinking allowed in what the selling that has happened today and yesterday. So there will be a loss of confidence and it will take sometime to build again.