Market View: 10-14 JUL 2017

Filed in Market Update by on July 11, 2017
Week Market View: 10-14 JUL 2017
View Last week the NIFTY closed at 9665.80 registering a gain of 1.52% over previous. The consolidation continues in the channel 9450-9700 with a positive bias. There is definitely a resistance that is coming in at 9700. The NIFTY has moved around 20% this year without a real correction in the index. But reiterating that we have had corrections coming in at the level of individual stocks. So things are not scary at the present for sure. The second half of this year will be a stock specific market due to the GST effect showing up gradually. There will be short term hiccups everyone understands the benefits it has brought to the organised sector. The unorganized sector now will come into the GST loop thereby giving an improved tax to GDP ratio. So the benefits are huge and the HNI understand that. In the short term the markets now await to get news from the earnings season. This week the NIFTY will continue to consolidate with a positive bias. All the best!

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