Nifty target@22,800 by year-end; we are in a middle of a 3-6 month consolidation, says CLSA’s Laurence Balanco

Indian equity markets, particularly the Nifty, are anticipated to experience further decline, potentially reaching 22,800 by the year end, according to technical analyst Laurence Balanco. This downward trend, observed over the past quarter, is expected to persist for a three to six month period as part of a consolidation phase of the market.