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There is always a risk of fiscal slippage in a pre-election year. However, we believe the government intent is clearly to remain within the set fiscal deficit limits in 2018-19, though a lot would also depend on the GST collections going ahead, Gaurav Dua, Head Research, Sharekhan told Moneycontrol's Sunil Shankar Matkar.
It is not possible to give very short-term view and market levels based on fundamental analysis. However, anecdotal evidence shows that the correction in benchmark indices, Nifty/Sensex, has been in range of 10-12 percent from peak level in the past few years, despite events like US' first rate hike in decades in 2015, unprecedented move like demonetisation in 2016, and correction driven by global uncertainties earlier this year in 2018.
So, we do not expect sub-10,000 levels on Nifty at all. Our base case assumption is that the index could consolidate around the current level (in range of 500-odd points on Nifty) in near future
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