|Market This Week
||Last week the NIFTY closed at 7963.20 registering a gain of 1.30% over previous week giving a positive year end closing. As mentioned last week as well we are in a short term consolidation range of 7600-8300 where any move below 7600 and above 8300 could trigger a new direction. Nothing much has changed in order to deviate from this view. This New Year, we expect the government to push for reforms like GST and land acquisition. Inflation is low and is likely to fall further this year. This along with the scheduled pay commission hike and expected RBI rate cuts would lead to further investments being made by domestic investors along with FII’s. This should lead to a steady 2016. However global factors, worries over china and weak corporate earnings is still a concern for our markets. We expect china to come up with reforms to tackle its worries soon. This week and the coming few weeks, we expect the NIFTY to be range-bound. A clear trend is likely to show up post third quarter earnings and around pre-budget season. Till then let’s be cautious and have a stock specific approach. All the best!