Mkt set to face gale of headwinds: Deutsche Sec

Here is expert equity call for the day on how the markets are expected to trade:

Abhay Laijawala, Deutsche Securities: While we remain convinced about the long-term India investment story, the market is set to face a gale of headwinds in the short-term. We are setting our year end Sensex target at 21,000, implying a 10% return from current levels. At our target, the Sensex will trade at a forward PE multiple of 16.4x, which is a premium of about 7% to the average multiple at which the market has traded over past five years.