|Market This Week
||Last week the NIFTY closed at 7555 registering a loss of 2% over previous week. It lost all the gains of the last couple of weeks due to expectations not being met by the RBI rate cuts. Our support levels of 7400-7500 fortunately was not taken off. NIFTY for now is in a consolidation zone of 7400-8000. The moment it moves closer to 8000, profit booking comes in as investors fear a correction, and it sinks again. FII’s begin to sell and all stocks take a beating. Volumes get affected. This is creating supply and lack of liquidity in the markets. All low risk taking investors should be cautious and be on the sidelines till NIFTY breaks out above 8000-8100 with strong volumes. These markets are not the best for us to take positions and should be viewed as a learning experience by all of us. Our next trigger for the markets would be the earning numbers and monsoon. We will have to wait and see if these triggers can give us a break out above 8100. Till then lets keep a low profile. All the best!