|Market This Week
||Last week the NIFTY closed at 7437.80 registering a loss of 2.15% over previous. This could be attributed to global scenarios prevailing in China and Gulf. Our support levels of 7600 has been broken and we should be on the side-lines till the time NIFTY comes back in our consolidation range of 7600-8300. Currently we are in a short term correction phase of our bull run. There would be a lot of value picks which would be coming up in this phase. This would turn out to be a great opportunity for all those investors who are willing to take a little more risk. However their vision needs to be longer as a short term vision might lead to losses. For all existing positions, we should be disciplined (at the same time not allowing profits to get converted to losses) and not get into a panic selling mode. This week the NIFTY is likely to bleed further and we should avoid taking positions. Let’s wait and watch. All the best!