Market View: 21-25 AUG 2017

Filed in Market Update by on August 21, 2017
Week Market View: 21-25 AUG 2017
View Last week the markets closed at 9837.40 registering a gain of 1.30% over previous week. It was good to see buying from investors especially after the 3.5% collapse that happened a week earlier. These gains were all amidst the Infosys story, India-China Doklam standoff, terror attacks in Barcelona and some strong decisions coming from the Trump administration. This clearly shows that value investing is happening in our markets every time the markets take a dip. This gives us a feel that the markets would never show a sharp fall though a correction of 10% from current levels would be treated normal after the 20% rally that we have seen in the last 8 months or so. This week we expect the NIFTY to consolidate and it is likely to take a take a strong support at 9750 levels below which we should be worried as a further decline could happen. NIFTY could take clues from approaching GST deadline, progress of monsoon especially after the deficient rainfall in August and global geo political tensions. All these events could keep the markets alive and moving this week. This is a buy on dips market but let’s wait and watch for NIFTY to give us a clear signal. Let’s keep a low profile till then. All the best!

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