Market View: 9-13 APR 2018

Filed in Market Update by on April 9, 2018

 

Week Market View: 9-13 APR 2018
View Last week the NIFTY closed at 10331.60 registering a gain of 2.15% over previous week. Lower inflation and a higher GDP prediction for the current financial year created positive sentiments. The NIFTY has finally come out of the narrow down trending channel between 10250 and 9800. The week closing has given a bullish candle on the NIFTY charts and the NIFTY is likely to move up from here now and the move towards 10600 can’t be ruled out. The trade volumes also suggest a bullish trend is likely to begin again. The first resistance that NIFTY could face is 10400 and then 10500. This week the NIFTY could show some weakness on Monday due to the fall in the US markets on Friday. The markets will closely watch the March quarter earnings that will start flashing from this week. A 5-10 % earnings growth expectation has been built up. Due to this we would see a lot of stock specific movements coming in. Good time to be a part of the markets now. The only worry is the ongoing trade war between US and China. The outcome of the FED FOMC meet will also be announced this week, so that’s something which will be watched. Overall we expect the week to be a positive one with a bullish bias. All the best!

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