US Markets kept on the tight ranges this past week despite NFP miss. Nifty however scaled higher as Reliance tries to break out of year long consolidation.
Nifty likely to go higher as heavy weights start to rise.
But there is a likely contagion building up in China real estate market. Evergrande the Chinese biggest developer is on the verge of a default. Everyone’s backing that govt may take over and backstop the turmoil. Not just evergrande other real estate companies also facing the heat right now.
Right now i am betting on 36000-37500 range. Will sell more if the price stays in the range.