Market View: 9-13 NOV 2015

Filed in Market Update by on November 9, 2015
Week Market View: 9-13 NOV 2015
Market This Week Last week was dominated by the bears again and the Nifty closed at 7954.30 registering a loss of 1.38% over previous week. The outcome of the Bihar assembly elections where the BJP succumbed to a massive defeat will dampen the moods of the market for some time. The markets will surely fall on Monday. The whole of the week is likely to be volatile where you could also see small pullback rallies too. The first support of NIFTY which is 7950 has already been taken off the last week. Now the NIFTY would continue to show its bearish tone a bit and would take its next support at 7800 and 7717. It is going to face strong resistance at 8300 on the upper side. This week being a short one, we would advise all of you to stay away from the markets and spend some good time with your families this festive season. Be disciplined on all existing positions and do not try to speculate. All the best!

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