MARKET VIEW: RALLY MAY PAUSE
Good monsoon, GST rollout, and lack of any negative global issue are the key factors for current rally. Nifty is now near a resistance level of 9800 and may pause near this level waiting for the corporate earnings.
A strong break above 9800 may take Nifty in five figures. Long term target is 10500. If Nifty falls below 9450, the up-trend will be reversed in short term. For the long term up trend to reverse, Nifty has to fall below 9200.
Investors should stay invested with a cautious view. They should avoid small caps and focus on large caps, diversified, and balanced funds.
Market View: Rally May Pause /11/ July /2017.