To avoid this kind of damage, the Nifty50 needs to close and consistently trade above 9,800 over the next 2-3 sessions. If the market reverses from these levels or at least pauses the decline, it would be a perfectly acceptable healthy bull market correction. Geopolitical unrest, progress of monsoon and earnings recovery will be key triggers for the market, he said.However, the long-term story for the domestic equity market looks intact. Brokerage Edelweiss Securities is positive on further market movement.“We see the Nifty50 at 11,100 by June 2018. We are overweight on banking and financials, consumer discretionary/durables, cement and construction space,” the brokerage said.

Source: Economic Times August 11, 2017 09:55 UTC