4090 Nifty may hold in near term: CLSA
June 30th, 2009
Rob Morrison, Chairman, CLSA, said there was a downside risk in Nifty and that it can slip to 4,090. “We expect the Nifty to hold 4,090 in the near-term. Post that, we think it may go to 5,000.”
Commenting on the US market, he said it continued to remain secular. The S&P 500, he feels, can go back to lows of 666 levels.
On crude, he said there was an upside seen at USD 71-76 per barrel. “Profits can be booked when crude reaches USD 72 per barrel.”