Sunil Garg, JPMorgan says a widespread sell-off across both developed and emerging markets will eventually present buying opportunities, but not today.
“Our analysis suggests more downside risks across Asian markets. In absolute terms, we see broad-based downside risks, particularly in India and the ASEAN,” he adds.
Also read: Sensex crash: Has correction run its course or just begun?
Laurence Balanco, CLSA says the Nifty has seen an orderly correction and the current decline is likely to be corrective and only a partial retracement of the recent advance before the broader uptrend resumes.
“Important support is seen at the 7,543-7,839 area which includes the rising 200-DMA. A pullback to this support zone should be seen as an attractive buying opportunity with our long-term target of 11,547. We continue to recommend building long positions during setbacks,” he adds.
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