Monday, 19 December 2016

Nifty to cross new highs before March, 2017

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Nifty will move towards levels of around 8,600-8,700 points after the Budget. Nifty will touch new highs before the end of current fiscal. The market's momentum has been on a downside, but luckily trend seems to be halting. There is a lot of volatility and 7,950 on the Nifty may not even be a support for now. Market bled today, seeing reduced trading volumes as the year comes to a close. 

Sensex closed 114 points lower at 26,374 and Nifty ended just above 8,100 at 8,104 shedding 35 points. Market's real trend may only become more apparent after the end of December, when trading may pick-up. Zones around 7,950 points should be held till January 2017.

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