|Market This Week
||Last week the NIFTY registered a loss of 3.5% over last week to close at 8305.25 which means it closed below our important support level of 8400. Therefore, for now the NIFTY is likely to correct further. We should keep away from the markets as long as NIFTY is below 8400. However, there is nothing to panic really as such corrections are helthy and part-and-parcel of any bull run. The valuations are anyways expensive and would give everyone a chance to restructure their portfolios with fresh buyings. The reason for the correction now is that the market is lacking triggers. The quarterly earnings have been lacklustre and also there is a prediction of weak monsoon. All this is purely speculation and it cannot harm the markets in the long run. In this bearish mode lets keep away from the markets and stay disciplined on existing portfolio. This is the time when the exit strategy should be followed religiously. It would be a good time to build the portfolio from scratch again as the new recommendations will be cheaply valuated and will show strength for a long time. All the best!