|Market This Week
||Last week the NIFTY closed at 8533 which was almost the same closing as the previous week. There was huge buying seen in the second half of the week. The earnings that were witnessed were lackluster. Surprisingly PSU banks reported good numbers which goes on to show that they will perform better in the times to come. There are also hints that more funds would be poured in them by the Centre. This week the market would keep a watch on Tuesday’s RBI meet and the hope of a possible rate cut which looks unlikely. Globally, there are concerns of slowdown in China, weak US employment numbers and low crude prices. However these concerns are more likely to benefit our markets than do us any harm. The NIFTY is likely to be range bound between 8300-8650 for some time. Any good news coming from the government over the reforms and passage of key bills would cause the NIFTY to break the consolidation and rally. This is a good time to take positions in DELIVERY based stocks. All the best!