Market View: 21-25 MAR 2016

Filed in Market Update by on March 21, 2016
Week Market View: 21-25 MAR 2016
Market This Week Last week the NIFTY closed at 7604.35 registering a marginal gain of 1.25% over previous week. The rally on Friday prima facie is a breakout on daily charts. The volumes are complementing the move too. This week would confirm whether the move was indeed a breakout or just a false rally. On a positive breakout confirmation, the immediate target for NIFTY could be 7800 with strong resistance coming in around 8000. We do not expect a sharp fall in the short term as our macro condition is independent and well shielded from the global turmoil. This week will be a short one and is likely to be good if NIFTY gives even small rallies above 7600. Overall, we look well placed. All the best!

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