Market View: 3-7 OCT 2016

Filed in Market Update by on October 3, 2016
Week 3-7 Oct 2016
View Last week the NIFTY closed at 8611 registering a fall of 2.5% over previous week, for obvious reasons we all know. Whenever such incidents happen, uncertainty prevails and we see heavy sell offs because of fears of escalation and the situation getting out of control. However, we have this news coming in that the NSA’s of both the countries have decided to have peace and reduce tensions across the border. This should be a positive for the markets and so now we can expect the dust to settle down, so that NIFTY can start focusing on forthcoming events. All the stocks that have corrected post the fall should continue their upward movement again now, so please do not panic and show patience. Stay disciplined! This week all eyes would be glued to the RBI meet from which the NIFTY is likely to take motivation. We also have the earnings season starting soon. So let’s wait and watch! Note that the NIFTY has a strong support at 8500 only below which we should start revising our plans. Till the time NIFTY respects this support we have nothing really to worry. For now we are still consolidating and only time will tell when we will start trading above 9100 which has been the resistance for NIFTY for a long time now. For this week let’s keep a low profile (but surely let’s not panic). All the best!

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