Feb 20, 2013, 09.13 AM IST
Manish Hemrajani of Oppenheimer feels recent data points could provide adequate fuel for the RBI to reduce Repo Rates by another 25 bps in its March policy meeting.
Here are experts equity calls for the day on how the markets are expected to trade:
Neelkanth Mishra, Credit Suisse: After what we think was a 'head-fake' in January, when consensus FY14 EPS ticked upwards, estimates are coming down again, in fact we see another 8-10 percent downside. Going forward, we expect more cuts to consensus estimates for stocks like SBI, Tata Steel and SAIL.
Manish Hemrajani, Oppenheimer: Indian markets have let off some steam this past fortnight on negatives like poor December IIP numbers, high trade deficit and the government pegging GDP growth for FY13 at 5.5 percent. Recent data points could provide adequate fuel for the RBI to reduce Repo Rates by another 25 bps in its March policy meeting.
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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