Nifty Daily Weekly and Monthly Charts Analysis

Bears kept ruling the Dalal Street for 3 week in row as Sensex and Nifty closed at 2013 low, with Nifty closing with cut of 0.3%, .Headline Inflation cooled off to 6.6% lowest in Jan with Core Inflation also coming at 4%, IIP data continued to be dismal at -0.6%. Moody warning of widening CAD has fizzled the optimism of improvement in Inflation. Budget is coming near and stock specific action will be name of the game.

Lets discuss Nifty Trading Strategy for Next week.

 Nifty Hourly Chart

Nifty is trading below 50 SMA which lies at 5914. Nifty made a brief move above 5969 to fall back below Weekly Trend Deciding level of..

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