Global investment bank Goldman Sachs and international brokerage Nomura has raised their targets on key benchmark indices for current financial year. Goldman Sachs has upgraded its view on India to "marketweight", with a target for the Nifty of 6,900 points.
Nomura has raised its Sensex target for the current financial year to 22,000 from 20,000 earlier, said reports.
While speaking to Manu Kaushik, Devangshu Datta said both could be wrong and outlined strategy that for market ahead.
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Devangshu Datta : Nifty has found support at 6285 and it has resistance at 6345. Could range trade between these limits. Breakouts could go 6250 or 6375 (all futures prices above). Difficult to say if there's a trend reversal. We need confirmatory evidence with the Nifty falling below 6225 at the least.
SmartInvestor : Both Goldman sachs and Nomura have upped their ratings on Sensex and Nifty respectively for FY14. What heavyweights will you suggest that could give good returns in the similar time frame?
