The New Year started off pretty shaky with Indian markets underperforming the rest of the Asian basket. According to Nilesh Shah of Envision Capital this is primarily because of the spiraling inflation and expectation of interest rates hardening this year. However, he felt, as long as 5,750 holds, the downside should be limited for the Nifty. "The earnings season over the next few weeks will be very important for us," he added.
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