Nifty Index Outlook: 11-15 Feb

Bears kept ruling the Dalal Street for 2 week in row as Sensex and Nifty closed at 2013 low, with Nifty closing with cut of 1.5%, Mid Caps and Small caps got deeper cuts of 3% and 4% respectively. Economic data was not so encouraging with Goverment lowering GDP estimates and SEBI's mandated minimum public shareholding of 25 per cent for private companies and 10 per cent for state- run firms, the promoters will have to sell their extra holdings in the market which will result in additional supply of equities in the market for the next few months.
Next week again tend to be lively with  MCX-SX new Stock exchange will start trading, Headling Inflation  and IIP data will be declared.Government has announced the Budget session dates, Railway Budget on 26 Feb and Annual Budget on 28 Feb which is also expiry day. So rise in volatility should be expected as the event comes near.
Lets discuss Nifty Trading Strategy for Next week.

 Nifty Hourly Chart

Nifty is trading below 50 SMA which lies at 5975. Nifty made a brief move above..

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