|Market This Week
||Last week the market went up 4.5%. It was a move which surprised everyone. The Sensex registered 833-point gain and the index closed at a 19-month high level. Now the immediate resistance for NIFTY on the higher side would be 5980 levels. This week the market would closely watch the vote on multi-brand retail in parliament. This might act as a big trigger for the market. Also if government is able to amend a few more reforms, the markets will gain further, and beaten down sectors like infrastructure, capital goods, public sector banks would rally. The F&O data suggests that the short term sentiments are very positive as most of the LONG positions have been rolled over. However there are high chances of profit booking this week.On the long term, the Indian market is very positive and well poised at this point of time. Both US and India are on the threshold of taking major decisions which have been pending for a long time. In the last one year FII flows have been larger in India than any other country. They have put more than 1 lakh crore in the Indian markets. The market sentiments are such that it feels that the slow down in the economy has bottomed out. It also no longer reacts to any scams. We are probably at the beginning of a bull run. Equities are relatively cheap as compared to other assets and it makes sense for investors to pour money into equities at this point in time.