Current Market Status
The month of December started with a weak performance in the market. The Nifty and the Sensex lost 1.7% and 1.4%, respectively, during the week. Except Nifty IT (+0.2%), all other indices gave negative returns for the week. Nifty Pharma (-6.4%) and Auto (-4.3%) were the worst performers. The Nifty Midcap and Smallcap have also faced the wrath of selling pressure as they both lost 2.6% during the week.
According to MarketSmith India’s methodology, at the end of the week, Nifty Bank, Financial Services, IT, Energy, FMCG, and Auto are in a Confirmed Uptrend. Metal is in a Downtrend whereas Realty and Pharma are in a Rally Attempt. The YTD returns for the Nifty and the Sensex were 1.5% and 4.7%, respectively. Continue reading “Market Condition and How to Approach the Markets this Week”