Market View: 5-9 DEC 2016

Filed in Market Update by on December 5, 2016
Week Market View: 5-9 DEC 2016
View Last week the NIFTY closed at 8086.80 registering a loss of 0.34% over previous week. Our view remains very much the same as last week, however we see a silver lining. The NIFTY shows an inverted hammer on the weekly chart. It’s too early to say if it’s a trend reversal but we see a hope. Everyone including the FII’s and DII’s see the current phase as a temporary one and we all know that the demonetisation will have a good long term impact. The environment is all set for decline in interest rates which will give a boost to banking, financial, automobile etc. sectors. Few days from now the environment will also be set for a pre-budget rally. Let’s wait and watch for now. This week will confirm if we will really have a trend reversal. The NIFTY will take clues from the RBI policy scheduled for this week. Be disciplined on all existing positions. 8000 will act as a good support for NIFTY. All the best!

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