Market View: 2-6 NOV 2015

Filed in Market Update by on November 2, 2015
Week Market View: 2-6 NOV 2015
Market This Week Last week the NIFTY closed at 8066 registering a loss of 2.77% over previous week. It was a week dominated by the bears and it was good that we stayed away from the markets. The corporate earnings have not been positive and a lot of sectors have not delivered as per expectations. The markets are likely to be volatile this week as well. The Bihar election exit poll results that will start flowing in will keep adding to the volatility. This week we should see NIFTY consolidating in the range of 7850-8300. Immediate support for NIFTY could come at 8040. If the NIFTY cracks this support then the chances of it hitting 7800 are high. We should all be cautious and stay away from the markets for this week. The broader consolidation channel for NIFTY in the short term is 7700-8350. We need a strong and sustainable move above 8350 for our next bullish rally. Till then we will not see the desired strength in our markets. Good time to follow the exit strategy and exit the non-performers. Liquidity will always help us get into fresh recommendations which will be the performers from here on. All the best!

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