|Market This Week
||After a strong uptrend for days, the NIFTY corrected last week and fell by 350 odd points. Various reasons can be attributed to the fall but there is nothing to panic and it should be treated as just a correction in the bull run. The valuations were anyways not cheap and a lot of stocks will take a breather here before they begin with their next rally. From this week onwards the FII’s are likely to sell further as it would be a year end closing for many of them. This may create panic in our markets are hence NIFTY will remain volatile and is likely to correct further. We must all stay away from the markets till the time NIFTY bottom’s out and we get further clarity. Be disciplined on all existing positions. 8148 will be an important and immediate support for NIFTY. If that is taken off, the next support would come at 8000. On the upper side we must wait for NIFTY to break the levels of 8625 for its next rally. All the best!