Market set to fall from 17,000 to 15, 300 levels

It was a volatile week for our market that continued to be under pressure. Experts feel if there is a correction in the market it would be healthy. Next week is F&O expiry so expect some volatility and interest rates are unlikely to be changed. Earnings too have been in line with expectations, so by month end the market will get a clearer direction. This week's figures were: Sensex and Nifty both down almost 3%. BSE Midcap index was down 2.1%, BSE Smallcap index down 1.3% over the week. BSE Oil & Gas index was down 6.5%, BSE Consumer Goods index down 6%, BSE Realty index down 3.5%, BSE Metal index down 2.2%. BSE IT index was up 3.25% and BSE FMCG index up 1.25 3%.

House View:We see a hefty correction in the market. Both FIIs and DIIs have been sellers this week, an adverse judgement in case of Reliance is going to be the likely trigger and this could pull down the market to 15,300 levels. Sell off/ book profits and keep a light position in the market
Disclosures: No personal holdings
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