“This might sound pessimistic but sadly, the rally is not sustainable. I wish it was a permanent recovery, but it’s not,” said Jagannadham Thunguntula, equity head at SMC Capitals.
“The futures and options closing helped push the Sensex upwards and global cues helped, but markets are still being driven by speculation rather than any sound investment strategy,” he added.
“They will soon fall back,” Thunguntula contended.