Market View: 1-5 MAY 2017

Filed in Market Update by on May 2, 2017
Week Market View: 1-5 MAY 2017
View Last week the NIFTY closed at 9304 a gain of 2% over previous week. The bank NIFTY too outperformed setting a platform for the banking stocks to start performing. The reason could be attributed mainly to the good results that were announced the last week and the appreciating rupee. The earnings have met the expectations of the markets and hence the markets have roared. The month of April-May historically have belonged to the bulls and will see if this time it is any different. A correction is definitely due and we expect that to happen soon. It could precisely happen due to an external event as the internals look good and strong. The only glitch internally could be GST implementation. However the correction will not be a very sharp one, rather we can expect a small correction and a longer consolidation. This week the markets would closely watch the results and anything negative would lead to a fall. Overall we are in a very good shape and the markets would continue to scale further in the longer term. Good time to be a part of the markets. The NIFTY will take a good support at 9050 levels. All the best!

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