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‘Nifty floor at 6700-7000 level; see 12-14% FY17 earnings push’

Given that the Indian market has corrected so much, this is definitely a relief rally, says Nischal Maheshwari, head — institutional equities at Edelweiss Securities. “We have hit a bottom for now, but I am not sure if markets have made a medium-term bottom,” he told CNBC-TV18.

He feels Nifty can find a floor at around 6700-7000 level.

As far as earnings growth is concerned, Maheshwari expects it to be around 12-14 percent in FY17.

He also adds that South East Asia is seeing a lot of redemption pressure, but India is in a much better position, he says.

More to follow…

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