|Market This Week
||As mentioned in the last market view, the NIFTY consolidated at the 5700 level. This was some healthy consolidation for the market after the rally we saw as a result of reforms being done by the government. NIFTY could not cross its resistance of 5750 though its important support of 5500 is not taken off yet. Despite all this, lot of individual stocks did well. There were some major deals that were closed with 14000 crore flowing into the market. This week the markets would trade flat. The global scenario too looks flat as the global markets were consolidating for the last couple of weeks. The earning season kick off makes this week significant with Infosys and Reliance kicking off their earnings this week. The earnings would decide the direction of NIFTY for this week though it would remain flat largely.
Talking on broader terms, Indian markets have become favorable for the FII’s to invest in with lot of reforms coming from Delhi. India has won the India Vs China game. A lot of liquidity is yet to be absorbed into the Indian stock markets. The markets look positive for investment.