JP Morgan in a research note said,
Over the near term we expect Nifty to trade in the 4,800 to 5,200 range as inexpensive valuations should provide a floor. Our year-end target for Sensex is 19,000.
RBI Policy and Government Actions only can revive growth. They are OVERWEIGHT on Private Sector Banks, IT Services, Health Care. Our strategy focuses on beneficiaries of sharp INR deprecation and policy turning supportive towards growth. Underweight on Consumer Discretionary, Energy and Materials.
