|Market This Week
||Last week the NIFTY broke the consolidation zone and crossed the resistance of 8600 to close at all-time high levels. It created yet another higher top with Good FII volumes. Now the next resistance for NIFTY would be 9000 and the immediate support would be 8650. This week would be governed by the derivative expiry where a lot of SHORT covering is likely to happen. Hence we expect the NIFTY to be in green for this week with a mild volatility. The markets would also react to the Greece election results and the US-India business talks. In the near term the markets would be guided by December earnings and the outcome of the US Fed monetary policy meet. Falling crude prices and the Rupee Vs Dollar equation will also play a role. Overall we are likely to have a good week. Our bull rally is intact and going very strong. The new US-India relations has sidelined China which will bring a lot more FII’s to India. Good times ahead. All the best!