Market View: Week Starting 29th JUN 2015

Filed in Market Update by on June 29, 2015 0 Comments
Week Market View: Week Starting 29 JUN 2015
Market This Week Last week Nifty closed at 8381 registering a gain of 1.90% over last week. This move was predicted in the last market view. The negatives of last week which will impact this week as well is the sharp fall of around 6% in the Shanghai index and turmoil happening in Greece. However India is not much exposed to the European markets and we have nothing really to worry about what’s happening is Greece though in the short term the jitters would definitely be felt. Also, the fall in the Chinese markets could very well divert funds in the Indian stock markets. The positives that will bring smiles to the Sensex are the monsoons covering the whole of India and the trigger of Smart Cities and housing for all by the government. These projects will give a massive boost to all the sectors including power, infrastructure, cement, manufacturing etc. There will be a massive FDI happening on account of this. Good monsoons have built up the expectation of another rate cut. Will have to see if that happens. Now, the NIFTY could move in any direction from here on. It has taken a good support at 8000 and is facing a good resistance at 8400. The zone of 8000-8400 is a no investment zone for now. We don’t see NIFTY breaking this zone soon. Let’s wait and watch for some more time. Stay disciplined on all existing positions. These are definitely the markets for a little risk taking investor. A good portfolio built now would definitely payoff in the times to come. All the best!

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