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We should see a 10% upside to around the 9300-9500 NIFTY levels by the end of 2015. 2016 outlook should be better than 2015.

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As we enter into the 11th month of the new government, the initial feeling of Euphoria is giving way to some despondency and a feeling that nothing much has changed and there is no move forward. While it is true that there are elements of policy as well as implementation that could have moved faster the fact is also that a lot has been done and the impact of the same will be seen on the ground over the next 3-6 months.

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Result season which was pretty bad across the sectors except few like IT and pharma validates: all is not well on the ground or say it’s very bad. BJP losing in Delhi would have shaken up Modi – Shah Combo and wakeup call for the centre. Perform for perish as now the Indian citizen cannot be taken for ride.

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