ICICI Direct and Bank of America Analysts on Market levels for Calendar Year 2022

ICICI Direct and Bank of America Analysts on Market levels for Calendar Year 2022

Analysts at ICICI Direct have upgraded Nifty targets of 18600 by end of Calendar Year 2022. Sectors which are expected to show outperformance are Banking, Financial Services, Autos, Capital Goods and Public Sector Undertakings.  Strong support as per ICICI Direct is placed at 16800 on Nifty.

 

Bofa Securities Analysts have come out with revised base case scenario of 18500 on Nifty and max probable upside of 19500 by December 2022.Earlier In June, the brokerage had predicted Nifty to be around 14,500 points by 2022-end. This they revised in August mid to 15600 from 14500.

Macro Factors as per Bofa which can have near term impact on the direction of Markets are –

  • Risks to Earnings.
  • Slow down in Global Growth.
  • Sustained Higher levels on Crude
  • Higher Interest Rates
  • Currency Depreciation 

Sources: Business Standard and ICICI Direct Research Report

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