Market View: 1-5 JAN 2018

Filed in Market Update by on January 2, 2018
Week Market View: 1-5 JAN 2018
View Last week the NIFTY closed at 10530.70 registering a gain of 0.36% over previous week. A lot of reforms came in from SEBI and the last trading day of the year was available for celebration. The whole of 2017 was good for the markets as the bulls dominated the bears. Nifty rose 29%. It was good to see good amount of liquidity from the retail investors and DII’s, lot of reforms coming in from the government, lot of positive global cues, no surprises from state election results etc. The earnings growth is also likely to be continued in 2018 as well. This week the markets would borrow its clues from earnings season and also the aura that is getting built up around the Union Budget. A lot of auto companies would be announcing their results and it would be monitored closely. Crude will also be closely watched. Now for NIFTY to make fresh highs from here on, it has to respect the support line of 10500. Any sharp move above 10500 will take NIFTY to 10800. We need to be cautious if it starts breaking below 10500. All the best!

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