May 20, 2013, 09.15 AM IST
Ridham Desai of Morgan Stanley expects the Sensex to rise 14 percent by the end of 2013. He says they prefer cyclicals over defensive sectors.
Here are experts equity calls for the day on how the markets are expected to trade:
Ridham Desai, Morgan Stanley: We see an upward trajectory for equities on the back of the earnings cycle, valuations, real rates, global liquidity, and hesitant sentiment. The potential headwinds remain FII ownership, the political cycle and complacency about tail risks. We expect the Sensex to rise 14 percent by the end of 2013 and we prefer cyclicals over defensive sectors.
Also Read - S&P sees new high; will Nifty cross 6200 today?
Abhay Laijawala, Deutsche Equities: With inflation declining sharply, further rate cuts should assuage concerns over asset quality and should drive treasury gains on bond portfolios. Consequently, we maintain our overweight stance on banks and financials. We are also overweight on energy and industrials. Our top picks are ICICI Bank , PNB , ONGC , Reliance Industries , L&T , NTPC and Ultratech Cement .
Intermediate top in Nifty is probably in process. Markets may move towards distribution or correction; Monday may have seen an exhaustion gap in Nifty
ALL GOOD THINGS COME TO AN END. The rally in Nifty which started from 5975 and touched 6415 may now be coming to an end. Fresh buying should be done only after some downward movement in prices has taken place.
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