Market View: 13-17 Oct 2014

Filed in Market Update by on October 13, 2014 0 Comments
Week Market View: 13-17 Oct 2014
Market This Week Last week was not a very good one and it was good that we stayed away from the markets. For now the NIFTY is likely to move is a strong consolidation zone of 7823-8159. If the NIFTY breaks below 7823-7850, it will fall down further. There would be a strong momentum if NIFTY crosses 8159-8200. The FII’s are not buying heavily and if these strong players keep away, the market will naturally take a beating. The immediate next trigger for the NIFTY would be the outcome of Maharashtra/Haryana election results. Till then we expect the NIFTY to consolidate. Let’s have a cautious approach this week as well.
Reiterating: For all current positions, just stay disciplined. Expect few recommendations. Note that this is a just a phase that comes in all the bull runs very frequently. It will pass by. Our long term bull rally is very much intact. The NIFTY will make a sharp upward move once the phase passes. All the best!

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