It was quite good week for Indian Stock Markets. The Sensex gained 0.8% while the Nifty closed with 0.9% gains during the week.
While commenting on Nifty for Monday it is expected that market may remain volatile. Today Nifty managed to close above 5,600 with considerable gains, however 5,650 level may continue to be danger area for the bulls. Until Nifty closes above 5,650 level, the possibility of loosing to support levels exists. Good support for Nifty exists at 5,540-5,500 levels. Monday will witness results of heavyweight Reliance and NTPC. Reliance results are likely to influence the market trend in short term. Nifty is likely to consolidate within 5,500-5,700 range.
While commenting on Nifty for Monday it is expected that market may remain volatile. Today Nifty managed to close above 5,600 with considerable gains, however 5,650 level may continue to be danger area for the bulls. Until Nifty closes above 5,650 level, the possibility of loosing to support levels exists. Good support for Nifty exists at 5,540-5,500 levels. Monday will witness results of heavyweight Reliance and NTPC. Reliance results are likely to influence the market trend in short term. Nifty is likely to consolidate within 5,500-5,700 range.
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