Market View: 7-11 MAR 2016

Filed in Market Update by on March 8, 2016
Week Market View: 7-11 MAR 2016
Market This Week Last week the NIFTY closed at 7485 registering a gain of 6.5% over previous week. The budget was good and right on track. We are in a much better position now compared to last couple of months. The overall sentiments in the markets are positive which is reflected in the good volumes we saw last week. The overall trend is positive and in the short term the markets may continue to move upwards with strong resistance coming in at 7750. As the NIFTY would continue to move towards 7750 it will cool off and consolidate a bit due to profit booking coming in intermittently. Overall, we should be bullish and at the same time be a little cautious as there are chances of NIFTY going volatile due to profit booking. There are very low chances of NIFTY coming back to 6800 levels. We expect a good week ahead. All the best!

Comments are closed.