Market View: 19-23 MAR 2018

Filed in Market Update by on March 19, 2018

 

Week Market View: 19-23 MAR 2018
View Last week the NIFTY closed at 10195.15 registering a loss of 0.31% over previous week. It closed below the all-important support levels of 10200 which is not a good sign in the short term. There has been some heavy selling from the FII’s and more importantly the DII’s tend to have sold almost 5 times more than the FII’s. Also the TDP exit from NDA added further fuel to fire. Technically on the charts the NIFTY has formed a bearish candle which clearly shows that this week there will be further downside. We could see NIFTY at 10000 levels again. There will be strong resistance coming at 10300 if the NIFTY starts moving upwards though chances of NIFTY moving upwards are low. This week the markets would keep a watch on the US Fed’s FOMC meeting that would take decisions around key interest rates. Also on a few companies would announce their DEC quarter earnings. So let’s wait and watch and take things one week at a time. Overall, bearish trend is likely to prevail this week as well. We must all stay cautious and try to stay away from the markets. All the best!

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