Just 10% of BSE-listed stocks could log a respectable double-digit return for the year.
For the coming week, Nifty may trade in the 9,300-9,800 range with a positive bias.
Marks believes the forecasters seem to act as if the future already exists.
Data showed three of every five BSE500 stocks have underperformed the index since March 24.
To be sure, India’s growth was already at a six-year-low during the pre-lockdown period.
If Nifty is unable to get past the 9,520 level, traders should consider booking profits.
Analysts have cut their price targets marginally following the hit on bottom line.
Analysts says most of these firms could fare better than peers post Covid-19 crisis.
Nifty may face resistance at 9,500 level and have support near 9,250, said analysts.
Chart suggests Nifty is hovering around the 20-day EMA for the last three sessions.
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