Market View: 18-22 APR 2016

Filed in Market Update by on April 18, 2016
Week Market View: 18-22 APR 2016
Market This Week Last week the NIFTY closed at 7850 registering a gain of 1.84% over previous week. We see a breakout on the NIFTY after a very long time and it’s a bullish signal. Now we must wait and confirm if the NIFTY can sustain this breakout. A weekly close above 8000 would confirm the bullish trend and the markets would get on track again coming out of the long consolidation. At the same time NIFTY should not close below 7650 which would nullify the breakout and the bullish trend. It would again take NIFTY back into its sweet consolidation zone which is not favorable for us. This week we expect the NIFTY to remain bullish and there is a good chance that it might close above 8000. We must be cautious if NIFTY starts showing closings below 7800 and immediately get into the inactive mode. All low risk taking investors should be on the side-lines while the NIFTY consolidates between 7500-8000. All the best!

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