CLSA VIEW ON NIFTY, ADVISES BUY NIFTY 6480 TGT 7036
Laurence Balanco, CLSA says the brokerage continues to expect a period of weakness in the coming sessions. “However, the markets have confirmed the recent highs, which suggests that a pullback should be short-lived and followed by new highs,” he adds.
According to him, a pullback to the 6,480 area should be seen as a buying opportunity in anticipation of a move up the 7,036 area.
Franklin Templeton survey Meanwhile, Jitendra Sriram, HSBC says the market is up 7 percent year-to-date on hopes of a favourable election outcome and domestic cyclicals are rebounding markedly. He further says the brokerage believes a sharp recovery is unlikely.
“However, domestic cyclicals, including energy, utilities and industrials could see rotation benefits,” he adds. Jitendra Sriram says the brokerage house is underweight on India within Asia.
According to him, the Sensex target of 21,750 for CY14-end implies 4 percent downside from current levels.
Src: Moneycontrol
Advise buy if Nifty drops to 6480; target at 7036: CLSA
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