Market View: Week Starting 29th Sep 2014

Filed in Market Update by on September 29, 2014 0 Comments
Week Market View: Week Starting 29th Sep 2014
Market This Week Last week was a bad one for all investors. The September derivative expiry led to investors losing a lot of money. There was a huge selling from the FII’s which pulled the NIFTY down. It was good we stayed away from the markets. The NIFTY is technically in a bull phase and these are minor corrections which will happen every now and then. These corrections give a good breather to the markets and then the next move continues from there. Remember that it is the very nature of stock markets to be volatile and unpredictable and therefore staying disciplined is the only way out come what may. The bulls need not worry as long as NIFTY is above its support levels of 7850. Also, the S&P has upgraded India’s credit outlook as ‘Stable’ from ‘Negative’ which is a positive sign and must boost the market sentiments. 8143-8188 levels would act as an immediate resistance for NIFTY. This week would be a short one with a whole lot of holidays piled up. So a sharp upward or a downward movement is unlikely. The markets would be in a consolidation mood. Let’s be a little cautious for this week as well. Expect less recommendations. All the best!

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