The National Stock Exchange benchmark index Nifty is likely to remain between 5,050 and 6,100 in the next 12 months, because of lack of triggers in the domestic macro-economic environment and uncertainty in the global markets, a report says.
The 50-share index is currently hovering at 5,300 level. In the foreseeable future Indian stock market is likely to resemble a game of "snakes and ladders" for investors as growth, inflation and politics continue to flash red, while, valuations, earnings momentum and some policy measures have now turned favourable.
"Indian portfolio strategists need to be nimble in playing what we think could be a prolonged 'snakes and ladders' game, between lower growth, high inflation, uncertain politics vs modest expectations, reasonable valuations and the possibility of some, even if partial, policy measures," the research
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