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The Nifty witnessed a V-shaped recovery post a 40% correction, on the back of a host of positive news flow.
At the current juncture, an important thought on everybody’s mind is, how much of the good news is in the price and what lies ahead for equities in CY21?
The Nifty is expected to remain in a structural bull phase with upside target of 16200 that is implied by the three year’s consolidation breakout (12200-8000).
Within the bull phase, a normal correction of 15-20% cannot be ruled out.
However, such a correction should not be construed as negative. Rather it should be capitalised on as an incremental buying opportunity with key support at 11400.
Click on the attachment for the full list of ICICI Direct’s stock picks for 2021:
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