Indian equity indices have recovered from last Thursday's big fall, and the Nifty 50 Index is back around the 8,750 mark. The reaction to the 25 basis point rate cut by the Reserve Bank of India has been lukewarm. With the lack of near-term triggers, will the equity market continue to consolidate?
On BloombergQuint's ‘Surf's Up', which tracks weekly trends in the futures and options market, K Subramanyam of Altamount Capital says the trend remains broadly positive. Subramanyam expects the Nifty to move within a band of 8,600 to 8,800 in the near term. He advises buying TV18 Broadcast, Indiabulls Real Estate and Bharti Infratel in the short term.
For more on where the markets are headed listen in.
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