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Eye 4700 for Nifty; may see further downside: HSBC Pvt Bank

Arjuna Mahendran, managing director and head of investment strategy for Asia at HSBC Private Bank has a target of 4700 for the Nifty, but sees further downside is more pessimism seeps into the system.
No ammunition for follow up rally today, says Udayan

Even though we saw a 300 plus point rally yesterday, CNBC-TV18's managing editor does not believe that there is enough ammunition for it to extend to today.

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