In an interview to CNBC-TV18, Laurence Balanco of CLSA shared his views on global and emerging markets. Speaking about the Indian market, Balanco said that there is a risk of Nifty revisiting 7,500 in the near term.
“As far as the retest goes, we do not think it is an immediate retest, but typically we have seen that the market needs a time period of repair to reconstruct the damage that has been done. So, we think over a period of months there is definitely a risk for the Nifty to revisit the 7,500 area as part of a broader, longer, lasting basing pattern. So, you would get a lot more volatility over the coming months, but they are lot shorter, choppier moves going forward,” he said.