|Market This Week
||We were expecting a correction for quite some time but that has yet not come. If a correction does not happen and the NIFTY breaks 7840 then it may rally further. Note that we are in a multi-year bull run and during such a phase, the markets move up-correct-consolidate-move up again. Don’t get disheartened when NIFY consolidates. For the last 2 months the NIFTY was consolidating between 7400-7840. In such a range bound market there is huge volatility and stop losses trigger which prevents us from making money. It is best to stay away from the markets in such a phase. Now, for the NIFTY to give a break out above 7840, more inflow of FII money and positive news flow on policy front is needed. We must wait for the NIFTY to break the 7840 level. Once that level is breached and NIFTY sustains above 7840 for a few more sessions, then it will move up further from there and that is when we should get active again. As long as NIFTY is range bound, we must all stay away from the markets. All the best!