CLSA is sticking to Nifty target of 12,000 by end of 2018, Laurence Balanco, global technical analyst of the firm.

“Selectively you have got market set up to make new high for the year and that should the Nifty uptrend intact and make new highs," Balanco said.

"There are some global markets that remain weak, but selective markets and lead markets will make new highs for the year,” he added.

Crude will remain in the range of $65-80 per barrel, Balanco said.

He further said, “Infosys is the laggard, so TCS has been the leader. Infosys is just emerging from its multiyear trading range and also got six month consolidation pattern that it broken out from. So for me, within the tech space, right now, Infosys is the laggard and that’s the one to look at.”