Nifty likely to remain extremely volatile: JM Financial

Here are experts equity calls for the day on how the markets are expected to trade:

Gautam Shah, JM Financial: The trading action in the last one-week has led to a fresh pattern formation with resistance around 5590-5620. The index is likely to remain extremely volatile without a clear trend and hence a conservative approach to trading is advisable. 5640/18800 is the best-case point in case of any extended pullback. Sakthi Siva, Credit Suisse: We upgraded basic materials in July 2010, when it became the most undervalued sector and IT in October, 2010. We have now added to our overweight consumer cyclicals as it has become the most undervalued sector. Some of the biggest discounts are in Tata Motors. We have also added positions in Turkey, China and Brazil.