Longer-term bullish trend continues in broader market: Laurence Balanco, CLSA
India's Nifty index is likely to remain trend-less for the next two quarters, with support around 15,400 and resistance at 18,600, according to Laurence Balanco, Technical Analyst at CLSA. The Nifty has been in a ranging period for 16 months, which could extend for another six months, capping relative performance against the EM basket. Balanco also recommended investors reduce exposure to the auto sector, with IT and FMCG more likely to provide relative outperformance.