Market View: 8-12 FEB 2016

Filed in Market Update by on February 8, 2016
Week Market View: 8-12 FEB 2016
Market This Week Last week the NIFTY closed at 7489 registering a loss of 1% over previous week. For a short term investor, this is not a very favorable time to be in the markets. For a long term investor, we sense a lot of opportunities with cheap valuations. However, as we have been repeating, we should not be desperate buyers. If the markets don’t support, even good stocks take a beating. We need to wait a bit for the markets to stabilize. 7400-7700 is the short term range for NIFTY with 7700 acting as a strong resistance. It is not safe to take positions while the NIFTY consolidates in this range. We expect a move out of this consolidation only after the budget. Till then let’s lie low. All the best!

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