Market may revert to 18,800-18,700 range & touch a new high around Diwali: Jai Bala
According to Jai Bala, the Indian 10-year yields are set to increase, impacting the negative impact on bond holdings for Indian banks. Bala predicts a short-term pullback around 7.06-7.04%, followed by a sharp hardening of the Indian 10-year yields. He believes the market will drop back to the prior record high range around 18,800, 18,700 before rebounding to fresh record highs around the October-November time period.
