|Market This Week
||Last week after a lot of volatility, the NIFTY closed at 6090, falling approximately 3% further. As a result, all the sectors took a beating which made minting very difficult. The fall was primarily because of heavy selling in the global markets and also RBI’s move to hike repo rate by 25 bps. The current NIFTY consolidation between 6000 and 6370 is actually a positive sign in the long term. Consolidation is very much a crucial part of the SENSEX and should not be seen in the negative sense as long as we are trading above 6000. Once we see a trigger above 6350, things would turn greener at once. For now i.e. in the short term, the valuations are a little expensive and no drivers that would pull the NIFTY further, are seen. Thus volatility will prevail for some more time. Stock specific movement will certainly be seen. All investors are advised to be cautious or preferably stay away from the markets for this week. Expect fewer recommendations for this week too.