|Market This Week
||The second half of last week ensured that the bulls are very much in control and have not yet lost the race. Though there was a lot of panic selling a week before, the two rallies on Thursday and Friday ensured that the major support level of 8000 was not taken off. The rallies saw a lot of buying from the DII’s and recovered the losses which investors had to take on account of the correction. The correction was primarily on account of week global scenarios where in there was a fear that some countries might default and net FII selling. This week is going to be a short one and would also mark the F&O expiry. There would be lack of activity from the FII’s who are on Christmas vacations back home. So we expect the markets to be range bound and calm. We should be in a dormant state for this week. With hints of GST getting rolled out, Positive statement from the US FED where interest rates will not be hiked in the next 6 months, looks like starting new year, we should witness fresh highs with a pre-Budget rally. Let’s wait for the dust to settle down till the year end. for this week 8300 will act as a resistance and 8000 will be a crucial support for NIFTY. We have nothing to panic for. All the best!