|Market This Week
||Last week the NIFTY closed at 7781.90 registering a loss of 2% over previous week. The second half of last week portrayed bearish bias pulling NIFTY below our support levels of 7800. Speculations around the US Fed action, worries around China, slow paced domestic reforms, weak corporate earnings, passage of the GST bill are some of the events around which the markets would revolve in the short term. The ECB rate rut is likely to have a negative impact on our markets. Let’s be a little cautious as the markets for now are not able to take any firm stand due to lack of catalysts. 7650-7800 will come in as a good support and 8100 as a resistance. The long term view is still bullish. All the best!