||Last week the NIFTY closed at 9915.25 registering a nominal gain of 0.29% over previous week. We can say that the consolidation has continued with a positive bias. This week we have JUL derivative expiry and also the remainder of the earnings to be announced. At some point or the other markets always chase earnings and so far the earnings have been fair and at par with the expectation. Anything more positive and we would see the index hitting 10K for the first time. This all-time high zone is always uncharted and scary. So caution needs to be observed. We have witnessed a lot of individual stocks getting corrected during the rally from 7900-9900 so we should stop thinking about a deep correction in the NIFTY now. In these markets it is best to have a stock specific approach. This week the NIFTY is likely to be volatile on account of JUL derivative expiry. Let’s have a cautious approach!