Market to correct below 18K after recent gains: BoAML

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

Jyotivardhan Jaipuria, BoAML: We expect the market to give up recent gains and correct below the 18,000 level as weak results could drive more downgrades. The Sensex EPS target of 1225 may be downgraded to below the 1200 levels. Our top result buys are ICICI Bank, HCL Tech and Lupin. The top midcap buys include Apollo, Eicher, Havells and Divi's Labs.

Manishi Raychaudhuri, BNP Paribas Securities: After the recent rally, the Indian market appears to be ignoring some near-term macro headwinds.  We believe the widening of valuation premium versus China & Asia ex-Japan leaves little room for earnings disappointment. The Q1 earnings momentum is critical for market performance and may trigger a near-term correction.