Market View: 26-30 MAR 2018

Filed in Market Update by on March 26, 2018

 

Week Market View: 26-30 MAR 2018
View Last week the NIFTY closed at 9998.05, well below the psychological mark of 10,000 since OCT 2017. It registered a loss of 1.93% over previous. This was as predicted the last week and it was good that we all stayed away from the markets. The main reason for the fall could be attributed to global weakness due to the trade war going on between the US and China. DOW, Nikkei suffered heavily the last week. We expect the downfall to continue this week as well as the NIFTY forms a bearish pattern on the weekly and daily chart. We expect it to test 9800-9900 and then pullback from there on. Global crude prices rallied around 5% last week which is not a very good sign for India. This week also marks the end of March derivative expiry. Hence volatility is likely to prevail. It goes without saying that we must all stay cautious and keep a low profile. The NIFTY has almost lost 10% in the couple of months since January. All stocks have corrected. It would be a good time to accumulate some quality stocks now. All the best!

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