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The market is heading for 14,580/49,600 levels, which is a crucial hurdle point for the market. On the decisive break of 14,580/49,600 levels, it would result in retesting of 14,650/49,800 levels.
In the current environment, it would be best to take a 3-year view as the economy and earnings would have normalized by then. From current levels, we can expect a 10-12 percent CAGR return for the Nifty, says Patil.