Market View: 23-27 OCT 2017

Filed in Market Update by on October 23, 2017
Week Market View: 23-27 OCT 2017
View Last week the NIFTY closed at 10147 almost on the same lines as last week. The markets made a record high of 32,699.86 during the Diwali week. After the record high, there was a sharp fall to consolidate the gains a bit. This week the earnings season would be closely watched keeping in mind the impact of GST. Most of the banks will be announcing their results this week. The market trends from here on would be decided by these results. If the earnings are disappointing, we would see a fall in the markets. Overall, the markets are in a good shape with good domestic inflows which are likely to keep increasing. The coming times would be much better for the markets as the demonetization and GST effect would have faded out by then. The positive effects of GST would start showing up. On a medium to long term basis, the NIFTY is all set for 10,600 levels. This week is likely to be volatile on account of the earnings season and October derivative expiry. The NIFTY is likely to consolidate between 9900-10200. Let’s have a wait and watch approach for this week. All the best!

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