|Market This Week
||Last week the NIFTY closed at 7762 registering a gain of 2% over previous week. It gave a close above 7600 which was a positive move. With events like FED rate hike and GST behind us, the markets would like to move ahead and take its next clues from quarter earnings and the union budget. For now the markets are in a strong consolidation mode with the short term range being 7600-8000. Any close below 7600 should call us to review our approach again. Any close above 8300 with good volumes should turn us bullish and back on track again. All we have to do in this phase is show patience and extreme discipline. We are being extra cautious in recommending stocks and filtering out those ones which we would have recommended in a one way market. Hope you understand. We do not expect a lot of movement this week as the FII’s would be off due to Christmas vacations. We expect a mild and low profile week. Please be disciplined and a little cautious. Do not speculate. All the best!