Nifty forecast for next week 11 Mar - 15 Mar

Bears after ruling the Dalal Street from past 5 weeks got a knock out punch from Bulls as they were able to rally 4% . Dow Jones at Life time high, Europe at 2008 High and Japan above 12000 propelled the risk on rally and nifty also rallied with its peers. Week ahead promises to be  more fast-paced action as share market will await the factory output data on Tuesday and inflation on Thursday, which are expected to set expectations ahead of the central bank's monetary policy decision on March 19. Moody’s prophesy that the worst may be over for the Indian economy and that it could grow at 7 per cent from 2014 also helped improve the sentiment on the street.
Last week we gave Trend Deciding level as 5765 Nifty as soon as Nifty moved above it achieved all the weekly targets. Traders following Weekly trend deciding level should have minted good money and should have avoided taking shorts.

 Nifty Hourly Chart

Hourly charts are trading in a perfect up trending channel after making low ..

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