|Market This Week
||Last week on all the trading days NIFTY rallied and ensured that it closed well above 8400. It registered an overall gain of close to 3% compared to its previous week. On the charts the NIFTY took a U turn after the correction which is a very positive sign. That doesn’t mean the correction is over yet. The level of 8400 has become an important support for the markets in this correction. The rally seemed to be on account of improved global and domestic scenario. The new opportunities being created in Iran would help keep crude prices low which will give an impetus to the domestic output and would also help in easing inflation a bit. The markets would reflect this development and at the same time keep its eyes on Tuesday’s RBI policy. Quarterly results would start showing up too from this week. Given all the developments happening, the direction of the market is still not certain though the situation has improved a bit. However let’s have a have a cautious approach for this week too and see how things shape up. All the best!