Dominic Bunning of HSBC says at the moment, dollar strength is coming through and post the overnight comments from the European Central Bank (ECB) and India‘s trade numbers showing October exports growth at its lowest level since March 2014, a little rupee weakness was on the cards.
Arindam Ghosh, MD & CEO, Blackridge Capital Advisors, believes RBI will go with the consensus and hike repo rate by 25 bps and lower MSF by an equivalent amount. As far as the mkt goes, he feels the move from 5,200 to 6,200 level is kind of huge and one needs to be cautious at these levels.
Tirthankar Patnaik has a year-end Sensex target of 17,000, but cautions of this target being breached on the downside. He sees Nifty ending this year around 4900, and is overweight on IT and pharma.