Market View: 26-30 DEC 2016

Filed in Market Update by on December 26, 2016
Week Market View: 26-30 DEC 2016
View Last week the NIFTY closed at 7985.75 registering a loss of 1.9% over previous week. We’ve had a consecutive weekly fall which shows weakness in the markets. The closing was almost at the 8000 levels but we still cannot say that our support levels have been taken off. We will have to wait for this week’s close to verify things. Our experience says that the year-end period is sluggish as the FII’s are busy with their New Year and Christmas holidays. Hence we expect poor participation and volumes this week with weakness prevailing. It’s better to wait and watch right now and stay away from the markets. Remember in stock markets money protected is money earned. So do not get desperate to take positions. We need to respect the current market trend and just flow with it. Expect less recommendations. These markets make the best of the stocks bleed. So be disciplined on all existing positions. Next couple of months are likely to be eventful and would give further directions to the markets. We expect good volumes and liquidity before the quarter earnings season. Let’s be patient for now. The period from February to Nov 2017 is what we should be aiming at for taking new positions. All the best and wish you a happy new year!

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