Any dips from here would be utilized as buying opportunity in coming trading sessions. We expect that the previous low of 4,750 in the Nifty would act as a major support level. Whereas, 15,750 would be crucial support level for the Sensex. Even in worst of the circumstances we expect Sensex to hold 15,000 level and 4,400 in case of Nifty. Any investor with investment horizon of more than one year can enter the markets at the current levels. Markets can give around 50% returns by the end of the calendar year 2012. Banking, Infrastructure, Telecom and Power sector would be our top picks.
Going forward the market may get crucial support at 4800, if fails to move back to 4,930 levels, then once again it can test the panic bottom at 4,720 and 4,665. The only hope left during these days is the expiry of September futures and options market, which is slated to be on 29th of this month.
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