Nifty Likely To Enter Risk Off Mode; 5 Stocks Which Could Give Up To 17% Return - Dollar Advisory & Financial Services

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Monday 8 May 2017

Nifty Likely To Enter Risk Off Mode; 5 Stocks Which Could Give Up To 17% Return

The market created a fresh 52-week high last week on the back of a stellar performance of heavyweights such as ICICI Bank standalone and the Bank Nifty. Nonetheless, the later part of the week saw a correction in the other heavyweight’s pack that dragged down the index to close down below the 9,300 mark.

The macro-technical alert in the form of break in international commodities that was raised seems to have acted, to say the least. This brings us to the juncture, where a risk-off status may set in for next few days.

This may set into a correction towards 9,190 levels, followed by the 6-week low placed at 9,020. After a stellar move seen in the past few weeks, the profit booking in the heavyweights is certainly welcome; though it seems quite evenly balanced.

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