Market View: 22-26 MAY 2017

Filed in Market Update by on May 22, 2017
Week Market View: 22-26 MAY 2017
View Last week the NIFTY closed at 9428 registering a marginal gain of 0.3% over previous week. The last candlestick pattern on the NIFTY shows that it has gone into an indecisive mode. Hence a routine correction could be round the corner, though not a very steep one. Reason being, the underlying market sentiments have been very strong and positive since the last 4 months and also the markets have been fairly liquid. So the NIFTY might take a beating of 150-200 points and would find good support then. We now expect the NIFTY to move sideways and consolidate a bit from here on. In the long term we expect the valuation to match the earnings and the markets would continue to make new highs. Have a stock specific approach this week. All the best!

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