Expert view, April 29 -- Rohit Srivastava, the founder and market strategist at Indiacharts.com, believes the market may have begun a move that could eventually take it back to record levels. He, however, added that a fall below 24,300 could signals short term weakness. In an interview with Mint, Srivastava decoded the current market structure and also shared his views on the banking and IT sectors. Edited excerpts:

This is a slightly challenging phase for investors, especially because the news flow remains extremely negative. However, towards the end of March, we witnessed signs of capitulation in stocks.

During the bottoming-out process, the broader market began to outperform the Nifty. This suggests that large-cap stocks fell more sh...