Nifty to find at resistance at 6,330-6,340: CLSA

Oct 17, 2013, 09.13 AM IST

Laurence Balanco of CLSA feels the resistance zone of 6,330-6,340 is likely to cap further gains and lead to price volatility in the coming weeks. "The 200 DMA and late September lows provides initial support at the 5,730-5,754," he adds.

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Nifty to find at resistance at 6,330-6,340: CLSA

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Here are experts' equity calls for the day on how the market is expected to trade:

Laurence Balanco of CLSA: The Nifty is retesting resistance at recent high of 6,120-6,239 area. There is further resistance at 2010 highs of 6,330-6,340 area. This resistance zone is likely to cap further gains and lead to price volatility in the coming weeks. The 200 DMA and late September lows provides initial support at the 5,730-5,754.

Also Read - Sharp mkt correction unlikely; upbeat on pharma, IT: IIFL

Thomas Lee of JP Morgan: US has likely avoided a default, a binary outcome that posed great risk to our thesis. As we have reiterated for several weeks now, a successful post-shutdown outcome would offer sufficient positive elements for the S&P 500 to reach our 1775 year-end target.

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