The IT index s decline is expected to slow down after a 6% drop from its peak in September, according to Anand James, Chief Market Strategist at Geojit Financial Services. He also anticipates some constituents of the index to make a strong recovery. The Nifty index may have room for another decline towards the 19350-180 region. Meanwhile, the Nifty PSU Bank sectoral index may experience a mean reversion up move after a recent rally.
With last week registering successively lower lows, the ongoing slide appears to gain momentum, setting up environment for a dive into the 19,350-230 region, says Anand James, Chief Market Strategist at Geojit Financial Services.However, the .