Nifty may see a relief rally, but 4700 is certain: Experts

Moneycontrol Bureau:

Nothing is going right for the Indian benchmark indices. Global woes coupled with domestic issues are making investors wary of the Indian market.

The October Index of Industrial Production (IIP) witnessed a sharp de-growth of 5.1%. That led to a sharp fall in the Nifty. It ended at 4,764, down 102.10 points or 2.10%, while the Sensex closed at 15,870.35, down 343.11 points or 2.12%. According to experts, a relied rally is possible. However, they strongly believe that there is more downside to the market and the Nifty may slip below 4,700. Sudarshan Sukhani of s2analytics.com is hopeful of a relief rally.