Market View: 22-26 Sep 2014

Filed in Market Update by on September 22, 2014 0 Comments
Week Market View: 22-26 Sep 2014
Market This Week The pullback that we saw on Thursday was good for the markets though it was a little technical in nature. We expect the NIFTY to move up a few more points from here and hit 8200. It might like to stay there and flip flop a few more points for some more time. 8143-8188 is the immediate short term resistance for the NIFTY. The current valuations on the NIFTY are a perfect reflection of some good corporate earnings especially the Auto, Pharmaceutical and Cement. Therefore you must understand that the NIFTY has not over run itself. We must stay invested in this market for sure! The immediate drivers for the market now would be the consumer spending on account of the upcoming festival season, earnings and elections coming up in Maharashtra and Haryana. This week would mark the September derivative expiry and hence volatility is likely to prevail. Have a cautious approach. All the best!

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