Markets still in clear downtrend: CLSA

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

Laurence Balanco, CLSA: Technically, markets are still in a clear downtrend. However, it will not be a straight line down. There should be a strong and sustainable bounce off September lows which should last for 4-8 weeks. Global equities are in early stage of a new cyclical bear market.

Parul Saini, RBS: We continue to be buyers of Indian equities as valuations are now at a discount to historical averages. We believe interest rates are close to peaking out as inflationary pressures are moderating with a slowdown in domestic demand. We expect a further rate hike of only 25 bps from the RBI.