Market View: 8-12 MAY 2017

Filed in Market Update by on May 8, 2017
Week Market View: 8-12 MAY 2017
View Last week the NIFTY closed at 9285.30 registering a loss of 0.20% over previous week. The earnings season has been good so far and has kept the market afloat. Last week the markets consolidated with midcaps performing well and banks under-performing. The markets are still awaiting a correction but if NIFTY crosses 9350, then we could see a little more upside. The chances of NIFTY surpassing 9350 on an immediate basis seems low. The NIFTY is likely to consolidate this week as well as a lot of positive triggers have already been factored in. The only worry for the markets now is GST implementation and the heat being exchanged between the US and North Korea. Otherwise we are well poised in terms of our rally and we have nothing really to worry. The level of 9250 is a strong support for NIFTY. We would continue to witness stock specific movement. All the best!

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