Market View: 18-22 MAY 2015

Filed in Market Update by on May 18, 2015 0 Comments
Week Market View: 18-22 MAY 2015
Market This Week Last week again the NIFTY was tremendously volatile and it closed at 8262, above the lower end of the 8200-8400 channel. This would mean that in the very short term NIFTY could touch the higher end of the channel i.e. 8400. Our view on the market remains the same as the last week and we would feel a clear breather once NIFTY clears the immediate resistance of 8400. The quarter earnings have not given a breather to the markets so far but the FII/DII buying at low levels suggests that the markets have yet not lost strength and we are definitely not in a terrible bearish phase. Now this routine correction that happens in every bull run does not really harm our long term bull run. In fact for all those who have missed the rally so far, this should be treated as a very good time to gather quality stocks. Definitely the markets would take its own time to pick up but once the rally starts, it would be a steep one way rally. For now be patient and adopt the wait and watch policy. All the best!

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