5564 should be seen as attractive buying opportunity: CLSA

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

Laurence Balanco, CLSA: The recent break below the 1,430 support level on the S&P 500 has led to a test of the August low of 1,397. However, with the positive divergence set-up still in play, we maintain our initial upside target of 1,494 for S&P 500. For the Nifty, any pullbacks towards the 50-DMA, currently at 5,564 should be seen as an attractive buying opportunity.

Bhuvnesh Singh, Barclays: It is difficult for us to call rallies based on global risk environment. Our primary focus is on earnings and cash flow momentum for relative outperformance. We maintain an Overweight stance in building materials, healthcare and consumer staples on their positive earnings momentum. Our preferred bets are JSPL, Hindalco and telecom stocks as we see significant improvement in their earnings in such benign environment.