|Market This Week
||After a lackluster week, the market ended in red last week with the Sensex closing at 19468, down 29 points and the Nifty closing at 5887, down 10 points. In the last couple of weeks, the market has not given any major way to either the bulls or the bears. We haven’t seen a spike or a great breakdown. It has been difficult for traders to make money. Remember that in stock markets money saved is money earned. In difficult times we are always careful in picking stocks and hence were had no recommendations in the last couple of weeks. It was good that we stayed away as the markets were oversold in the near term.
Things are not going to remain negative till Budget. We will see a pre budget kind of momentum being built up over the next two weeks and hence the next two weeks maybe quite eventful and we may see an upside of about 150-200 points on the Nifty. If we observe the F&O data indications of that has been seen on Friday where a lot of shorts seem to have closed in Midcap. However we still need to trade cautiously and be stock specific till the budget, post which we would get some kind of clear direction. On long terms basis, the Indian markets are very attractive and well poised.