|Market This Week
||After 5 consecutive bullish weeks NIFTY closed below by almost 3% last week. This was primarily on account of profit booking. Technically on the charts, NIFTY is not able to break its all-time high resistance level and every time it comes close to breaking it, there is profit booking and a fall. Finally the NIFTY closed below the important levels of 6000. We have something to worry for here. If the NIFTY breaks the 5950 levels, we could further see a massive fall. As long as the 5950 level is not taken off we are good. This week the market will be a lot more volatile due to MAY derivative expiry. We must be a little cautious. If possible stay away from the market for this week.