Important for Nifty to hold above November 2012 lows: CLSA

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

Laurence Balanco, CLSA: The lack of follow through buying last week creates a mixed picture for regional equity markets and suggests that further corrective action is needed before the intermediate term uptrend can reassert itself. For the Nifty, it's important to remain above the lows it hit in November 2012 as a break below that would mark a top for the uptrend and a downside target of 5,250. Willem Buiter, Citigroup: Contagion risks are overrated post the Cyprus deal. Even when bank runs occur, the ECB has the means to substitute for the funding lost from departed deposits. A common euro area resolution mechanism and authority and a statutory sovereign debt restructuring mechanism should be created.