|Market This Week
||Historically the month of October has always been bad for the markets. In the short term the charts suggest that NIFTY is keeping ill and there appears to be a correction waiting round the corner. The FII’s have kept away from the markets the whole of September. The US interest rates have gone up. The IMF have revised the global GDP growth downwards. There has been lack of action on major reforms by the new government. All these factors have created a sort of doubt in the sentiments. If BJP loses the Maharashtra/Haryana elections, it would create further trouble. Right now, The NIFTY chart in vulnerable and it appears to be set for a correction. The correction would deepen further in the coming trading sessions if NIFTY breaks below 7850-7900. We must all be cautious and as far as possible stay away from the markets. For all current positions, just stay disciplined. Expect few recommendations. Note that this is a just a phase that comes in all the bull runs very frequently. It will pass by. Our long term bull rally is very much intact. The NIFTY will make a sharp upward move once the phase passes. All the best!