|Market This Week
||Last week though a short one turned out to be good for investors. Multiple reasons to cheer for! Firstly, Reforms continued, the latest one being the government clearing defense projects worth 80K crores. This will certainly give a boost to the domestic industry promoting manufacturing of defense equipments locally. Secondly, the reappointment of Dilma Rousseff as the Brazilian president, has had negative reactions all over. This may cause the Brazilian economy to underperform which would eventually turn investors towards India. Thirdly, there is weakness in the global crude prices which will benefit India. The auto sector reported good sales on the ‘Dhanteras’ day. All these factors would boost NIFTY further. This week all the eyes would be set on the US FED meeting. The markets have their eyes glued on the outcome. This week we expect the markets to consolidate with a positive bias. We must be stock specific rather than being sector specific. Reiterating, the broad consolidation zone for the NIFTY is between 7750-8150. Any move beyond this range will trigger a massive movement. 8000-8050 would act as a resistance for NIFTY this week. Looking at the stability of the central government and the pace at which reforms are taking place, equities are all set to outclass all other investment platforms in the times to come. All the best!