Nifty Weekly Trading Strategy before crucial RBI Policy

Next week will be crucial for both Indian and Wold market as the two central bankers – Duvvuri Subbarao and Ben Bernanke will be solving the puzzle markets have been contemplating from past 1 month . The RBI Governor on Monday will let us know if we are getting the  rate cut and US Fed will be giving more clarity on withdrawing the QE from the market as more signs of improving US economy emerges. Volatility will be name of the game so trader with a trading plan and stick to your stop losses.
Last week we gave Trend Deciding level as 5921 Nifty achieved 3weekly targets on downside.

 Nifty Hourly Chart

Nifty Hourly charts is taking resistance at 50..


Continue Reading