Market View: 16-20 JAN 2017

Filed in Market Update by on January 16, 2017
Week Market View: 16-20 JAN 2017
View Last week the NIFTY closed at 8400 registering a gain of 1.90% over previous week. We are seeing a trend change on the NIFTY (it’s not a break out yet) and it seems the budget is likely to be good for the markets. It’s too early to say if the NIFTY trend has really changed. We need to see if the NIFTY sustains its upward move amidst the quarter earnings and the budget. We expect the NIFTY to continue its run till the budget. Also, the Bank NIFTY is complimenting the NIFTY well. Let’s wait and watch! The short term trend in likely to be positive and we should cash in on the Momentum opportunities that we are likely to see this week. 7900 will continue to be our strong support. All the best!

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