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.
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Like Bank Nifty; mkt has strong support at 7700: PhillipCap