Market View: 20-24 JUL 2015

Filed in Market Update by on July 20, 2015 0 Comments
Week Market View: 20-24 JUL 2015
Market This Week Last week the NIFTY closed at 8610 registering a gain of around 3% over last week and also giving a break out above 8600 after a long time. It was a much needed relief for all the investors amidst all the negativity that was happening since the last couple of months. The market seemed to be telling us that it wants to move up and was just waiting for some positive news. Now the question is whether NIFTY can sustain this rally. There are good chances that it might as a lot of positives have happened on the global front with respect to the Iran nuclear deal, Greece etc. Crude is likely to fall on account of the nuclear deal and that would boost our economy and markets further. Domestically we expect the GST to be tabled in this monsoon session of the parliament though the land acquisition bill looks hazy. All these events would prove good for the markets. The only spoiler could be the corporate earnings and the parliament session going awry. If NIFTY sustains the levels of 8450-8500, it will rally further from here. We all should grab the opportunity when NIFTY moves on from 8600. If it trades below 8500 then caution must be observed. This is a good time to enter into some good Delivery based counters. Observe discipline on all the existing positions. All the best!

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