|Week||Market View: 16-20 Sep 2013|
|Market This Week||Last week, the Nifty rallied 3 percent and the Sensex gained 463 on account of some large inflow from FII’s. Now the 6000 mark would be the next psychological barrier which is not likely to be taken off quickly though. 5700 comes as an important support for the NIFTY.
To comment on the details of the current market scenario, there has been no significant change in the last couple of months or so to justify the rallies that we see. The rallies are more or less feel-good rallies with raised expectations from some new policy makers. They are not backed by any good fundamentals. We still are struggling with very weak fundamentals be it GDP, current account deficit (CAD) or fiscal deficit . We need to be extremely cautious and disciplined in these markets and not let emotions drive us. In these markets remember that Exit points are more important than Entry points. Our money needs to be protected.
Also, it doesn’t mean that we cannot make money in this market. Stock specific movement will always be seen in any type of market. Our aim would be to pick these stocks for all our investors. Remember, do not lose any opportunity to book profits in this market. Follow strict stop losses. These are certainly good learning times.
Note: Market view got delayed due to a technical snag. Apologies!