Feb 26, 2013, 10.19 AM IST
Laurence Balanco of CLSA said they were still expecting a retest of the 2008 & 2010 highs at 6,300, once this corrective phase has run its course.
Here are experts equity calls for the day on how the markets are expected to trade:
Laurence Balanco, CLSA: A break below 6,000 on Nifty has opened the door for further short-term weakness, back towards the next support at 5,782. However, we are still expecting a retest of the 2008 & 2010 highs at 6,300, once this corrective phase has run its course.
Ridham Desai, Morgan Stanley: The sell-side consensus has now improved, as it usually does with a lag to share prices. But the consensus continues to be more constructive than Morgan Stanley analysts. The opportunity lies at the stock level.
Markets face resistance; Nifty likely to correct soon
After expansion comes contraction - this is the theme which the stock markets have begun to work on. This letter has been upbeat on the market. We still are, when it comes to the long term. The short term scenario may be different. For short term traders the strategy should be to take swing trades lasting one or two days, only on extremes.
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