Rupee could appreciate to 51/$ by end of FY13: ENAM

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

Nandan Chakraborty, ENAM: The Europe scare has precipitated a global currency meltdown, wreaking havoc on the rupee, while domestic policy inaction has contributed to a 9-year GDP growth slump in India. By the end of FY13, the rupee could appreciate to 51 levels with falling imports of crude and gold and probable liquidity injections in US/Europe. We prefer to go bottom up and our best defensive bets are ICICI Bank, HDFC Bank, L&T and DRL.

Laurence Balanco, CLSA: The bullish price and momentum divergence suggest that a trading bottom is imminent. We recommend buying the first bullish reversal later this week or early next week for a multi-week rally. We also recommend unwinding the long Developed market Vs short Emerging Market trade.