Market View: 15-19 JAN 2018

Filed in Market Update by on January 15, 2018

 

Week Market View: 15-19 JAN 2018
View Last week the NIFTY closed at 10681.25 registering a gain of 1.16% over previous week. Our view remains very much the same as last week. A breakout can be seen on the NIFTY weekly chart after a good consolidation. So the bullish trend is likely to continue this week as well. There have been instances last week where we saw the bears taking over from the bulls but ultimately the charts suggest that the bulls have been victorious. There are a lot of expectations from the union budget and the earnings season. Let’s see how things shape up. This week should be a positive one, we should get cautious if NIFTY breaks below 10500. A slightly long term support for NIFTY will now be 10400. All the best!

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