Market View: 2-6 Feb 2015

Filed in Market Update by on February 2, 2015 0 Comments
Week Market View: 2-6 Feb 2015
Market This Week The first four days of last week were green due to short covering and then on the fifth day NIFTY gave a correction. Nothing really to worry. After upward moves since many trading sessions, there has to be a bearish/consolidation phase before the next move takes off. NIFTY is at all-time high level and it is likely to show a correction which would be healthier for the markets in the long run. Though there were disappointing results posted by some PSU banks, liquidity has not dried up, so we would not say that there would be a crash. However, NIFTY would face strong resistance at 9000 and is likely to take a good support at 8650. Anything below 8650 should trigger a substantial correction. This week, the NIFTY would consolidate and be a little volatile and so let’s be a little cautious. All the best!

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