Nifty Weekly forecast for 8-12 April

Next week seems to be full of events which will be led by first phase of Lok sabha elections which begins on Monday , followed by IIP and inflation data and beginning of the results season with Infosys declaring its results on Friday. Recent Opinion Polls have predicted NDA coming to power, and stable government which has prompted FII's have put 3 Billion Dollar in India. Opinion Polls have gone wrong in 2004 and 2008 so blindly believing them and investing will be a grave mistake. Take the classic example of IDFC last week which after getting Bank License went high of 140 and corrected back to 125, So lesson traders and investor should learn market already factor is events 6 months well in advance and surprise most of market participants with its move. So analyze and trade price only and forget the news. So forget about Nifty hitting 7500 or 6000 but make sure you are part of the move and having trading system will only help you.

Nifty Hourly Chart

Nifty Hourly charts has closed below its 50 HDMA, which is bearish in short term.Any close above


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