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    HomeNewsBusinessMarketsNifty likely to rebound, may rally upto 7717: CLSA

    Nifty likely to rebound, may rally upto 7717: CLSA

    Laurence Balanco, CLSA feels the Nifty is staging a rebound rally with initial resistance at 7,717 followed by major trend resistance at the 200-DMA and upper boundary of the cited downtrend channel at the 8,156-8,160 area.

    February 02, 2016 / 09:44 IST

    Laurence Balanco, CLSA feels the Nifty is staging a rebound rally with initial resistance at 7,717 followed by major trend resistance at the 200-DMA and upper boundary of the cited downtrend channel at the 8,156-8,160 area.

    According to him, globally relief rallies continued to unfold, but should ultimately fade.

    "The markets are looking for some additional rally attempts this week prior to a resumption of the long-term decline in February," Balanco says, adding he continued to recommend selling this rebound.

    first published: Feb 2, 2016 09:44 am

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