Market Outlook

Overall trend of world stock markets is up but since they have gone up one way in last one month and they are showing signs of overbought nature, one should
open new buy positions only at the supports. A sideways consolidation before the next rally can't be ruled out. Nifty takes support between 3200-3000 levels and
Sensex between 10100-9700. The result season starting next week would keep Indian as well as US markets volatile. Even VIX, the indicator of volatility is below
40, which is quite a positive thing. The coming week results of financial heavyweight in US namely Goldman Sach, J.P Morgan chase& Citigroup would tell
whether banking and finance are out of the wood or not.