Nifty to see 10% correction before elections: Jefferies

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

Nilesh Jasani, Jefferies: Without the ebbs and flows of global liquidity, Indian equities will have little to cheer about until the elections. We retain our view of a 10 percent correction for the Nifty to the 5300-5500 range before elections. We have raised financials to Overweight and downgraded staples to Underweight.

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Garry Evans, HSBC: If the Fed pares back QE this year it might cause equities to correct a little. Our top-down model points to 10 percent growth this year and valuations are nowhere near stretched. Given this starting point, we still see decent upside and are Overweight US & EMs and neutral on Japan.