|Market This Week
||Last week NIFTY dropped 28 points and closed at 5,386. It was a week of volatility and we are happy that all of you stayed away from the market. This week the August F&O series would expire and huge “Longs” are seen in the derivative data. The long covering would result in the market nipping down a little bit again. Despite this the NIFTY would not close below 5300. This week would be a good one to trade. On the local front, there has been no action from the government on the policy front after presidential elections. A lot of promises were made but no actions were taken. The market seems to have ignored these worries. Hence the stocks which are related to this policy making have taken a beating while the rest continue to move forward. On the global front, the ECB is hinting at buying bonds. There seems to be no solution on the Greece and Spain crisis. Commodity and currency is range bound, crude is $115 a barrel. Hence, the market is going to be range bound this week and a lot of stock specific movements would be seen. Range bound markets are good for making money. You must just know which horse to put your money on!
On the month closing overall, the month of August has been very good for all of us. There were investments worth $1.5 billion made and the market moved up 7%. Our recommendation rallied and we all made money. When people were not giving NIFTY a chance to move above 5200, it went much beyond that. 5600 on the NIFTY looks very much a possibility in the long run.