Nifty Weekly Technical Analysis for Week Starting 20 April
Next week is an crucial week as , the Reserve Bank Of India
(RBI) will announce its annual monetary policy for the year 2012-2013.
Looking at slowing economic growth and lack of capital investment
general consensus is for a Rate Cut after a straight 13 times rise between March 2010 and October 2011.
Current benchmark interest rates in the country stand at 8.5% currently.
We have Monthly Inflation data coming out on Monday which will be keenly watched by RBI. February Inflation was at 6.95% ,Anything lower than Jan inflation number of 6.54% will be welcomed by market as it increases the probability of rate cut on Tuesday.
So next market trigger will come from RBI, Will Nifty will be able to break its trading range from 5178-5320 Lets jump into the technical to find the answer
Nifty Hourly chart showed a breakdown on last 2 hours of trading on Friday,13(Ominous day). Nifty has broken below both 50HSMA@5265 and 200H SMA@5292 which shows the...
Read the Full Story
Current benchmark interest rates in the country stand at 8.5% currently.
We have Monthly Inflation data coming out on Monday which will be keenly watched by RBI. February Inflation was at 6.95% ,Anything lower than Jan inflation number of 6.54% will be welcomed by market as it increases the probability of rate cut on Tuesday.
So next market trigger will come from RBI, Will Nifty will be able to break its trading range from 5178-5320 Lets jump into the technical to find the answer
Nifty Hourly Chart
Nifty Hourly chart showed a breakdown on last 2 hours of trading on Friday,13(Ominous day). Nifty has broken below both 50HSMA@5265 and 200H SMA@5292 which shows the...
Read the Full Story
posted by Bramesh at
10:57 AM
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