||Last week the NIFTY closed at 9964.40 registering a loss of 1.20% over previous week. This was primarily on account of yet another hydrogen bomb tested by North Korea and downgrade of China’s credit rating by S&P. Iran too tested a missile much against the likes of Washington. So the markets currently are being governed by the global geo-political scenario. Only is worst case if global scenarios deteriorate further we will see further corrections. Till then NIFTY should continue to consolidate. This week is likely to be volatile on account of September derivative expiry. We expect the NIFTY to consolidate in the channel between 9800 and 10200 and any developments related to the lingering geo-political tussle will dictate the next market trend. FII’s have been selling since August but DII’s having been buying in equal numbers so our markets are well supported by domestic inflows and one fall should not worry us much. Let’s be cautious and wait and watch for this week. All the best!