|Market This Week
||Last week the NIFTY closed at 8518 registering a loss of 0.5% over last week. Parliament sessions were a complete waste which disappointed the bulls. Other issues which disappointed the market were weak monsoon, poor earnings, yuan devaluation etc. We are very much in the same situation as last couple of weeks. The slight difference is that certain reforms have made their way in the banking sector. For now the NIFTY is in a strong consolidation zone of 8000-8650. This has led to a good time correction in the markets which is part of every bull run. It proves healthy in the long run. The narrow consolidation range for NIFTY right now is 8300-8650. The markets are consolidating that doesn’t mean they are expensive and a breakout can happen any time. Delivery stocks are our best bet now. The markets would be volatile this week and we must have a cautious approach. Reforms from the government would be the key henceforth. All the best!