Economic TimesLean R·
Rule out V-shaped recovery, markets can fall more, says PL Capital with Nifty 12-month target at 27,589
PL Capital remains cautious on the Nifty after its eight-week losing streak, ruling out a quick V-shaped recovery. The brokerage has trimmed earnings estimates but sees valuation comfort in largecaps, while flagging inflation, FII outflows and demand risks.
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