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    HomeNewsBusinessMarketsNifty at risk of falling to 5800-5900: CLSA

    Nifty at risk of falling to 5800-5900: CLSA

    In the near-term, Laurence Balanco of CLSA is looking for downside risk in the 5,800-5,900 area. “While not our base case, if price action penetrated the 6,330-6,340 resistance to a new high, 6,500 would be the next target,” he adds.

    January 09, 2014 / 16:21 IST

    Here are experts’ equity calls for the day on how the market is expected to trade:

    Laurence Balanco of CLSA: The 6,330-6,340 resistance zone and the bearish price/momentum divergence on weekly and daily chart suggests Nifty is not set to record a sustained breakout at this time. In the near-term, we are looking for downside risk in the 5,800-5,900 area. While not our base case, if price action penetrated the 6,330-6,340 resistance to a new high, 6,500 would be the next target. It would also suggest start of a long-term uptrend.

    Aditya Narain of Citigroup: The quarter's earnings could be a mood booster; but we wouldn't jump the gun, on either material earnings upgrades, or the market. We see our FY14 and FY15 earnings estimates holding and expect the market to generate a relatively modest 5 percent return for 2014.

    first published: Jan 9, 2014 10:34 am

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