Index Weekly Outlook: Nifty awaits RBI cues

The RBI’s Fourth quarter monetary policy meet scheduled for the 19 March will also be keenly awaited by investors and traders. As CPI climbed 10.9 per cent in February from a year earlier, compared with 10.8 per cent in January, it has raised concerns about the extent of rate cut by the central bank on 19 March.Stock prices whipped in both direction in volatile week and Nifty ended down 1.2% or 73 points  WoW basis.
Last week we gave Trend Deciding level as 5971 Nifty made the high of 5971 turned back, achieved all the weekly targets on downside. Traders following Weekly trend deciding level should have minted good money.

 Nifty Hourly Chart

Nifty Hourly charts are trading ...

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