Breakdown in Nifty may test next support of 5,782: CLSA

Written By Unknown on Selasa, 12 Februari 2013 | 10.54

Here are experts equity calls for the day on how the markets are expected to trade:

Ridham Desai, Morgan Stanley: All eyes are on the Union Budget and how the fiscal deficit numbers will add up, given that the FM has already announced that he will deliver on the fiscal target. While the market seems skeptical, we remain long on equities because the path of fiscal consolidation will likely prove positive for markets.

Laurence Balanco, CLSA: The intermediate trends for Asian markets remain up. However, short-term momentum indicators are still extended, which have resulted in a mixed outlook. Japan, Singapore, India & Thailand are vulnerable to further short-term declines. A breakdown in the Nifty opens the door for further short-term weakness towards the next support at 5,782.



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