For second consecutive month, Nifty traded volatile in a broader range of roughly five hundred points but managed to end the month marginally in green and settled at 8398 level.
In line with expectation, it initially upheld negative bias in first two weeks and retested psychological mark of 8000. However, gradual recovery was witnessed in the later half, which helped index to pare that loss and end on positive note.
As countdown has begun for the earning season, it’s going to be a volatile month for the benchmark index and stocks as well. Having said that, sustainability above 8500 in Nifty would trigger fresh momentum, which may lead index to 8750-8800 ahead. Otherwise, consolidation will continue with major downside support at 8200. Meanwhile, stocks may continue to trade in both directions so keep strict stop losses and hedge your trading positions especially before the results.