|Market This Week
||Last week the NIFTY respected the support of 8000 and closed at 8225 registering a gain of 3% over last week. The rally boosted the overall sentiments of the market. The rally could be attributed to a few factors like the IMD’s positive forecast on the monsoon and also the forecasted annual growth rate of 7.5% by the Finance ministry. Other factors like minimum support prices (MSP) rate hike and the US Fed maintaining the interest rate has helped too. Now this week marks the end of June derivative expiry. There will be a concrete verdict on the Greece issue too. All this hints at a volatile week. There is a good chance that we would see NIFTY testing 8400 on account of short coverings. The level of 8000 will act as a strong support for the NIFTY. 8400 would act as a resistance in the short term. Still not a good time to foray into the markets. All the best!