Market come in consolidation period for this week
Last week nifty act exactly as I predict. Overall the last week was very volatile and full of choppy trading sessions. Nifty closed above 3000 and Sensex closed above 10,000 mark.
On Friday the market open weak then bounced back shortly on expectations of a second government stimulus package for the economy and on hopes of further cut in interest rates by the all banks. Buying by FII this month has helped market sentiment. Foreign funds bought a net Rs 1,626.90 cr. of equities this month till.
Nifty fails to close above 3100 and this week is the last week for F&O so market will show huge volatility. This week market may ends in very small gain or flat.
Use Stop loss strictly in your every trade, because market is heavily volatile.
Nifty future (3082): Weekly nifty closed in green with gain of 182 points. Buy nifty above 3120, if sustain above this level for two days then nifty may touch 3230 to 3301 and If breaks 2922 then nifty may touch 2890, 2764 and 2644 in coming days.
Rupesh Yatesh Dalal
MARKETCALLS
