Nifty Weekly Outlook: March 2013

Bears kept ruling the Dalal Street for 5 week in row as Sensex and Nifty closed at 2013 low, with Nifty closing with cut of 2.2%. Union Budget got a Thumbs down from the market as it did not meet the market expectation. The sharp plunge in mid- and small-cap stocks on rumours of pledged shares of promoters being off-loaded, was the other sidelight of the week gone by. The BSE Mid-cap index lost 3 per cent, while the small-cap index lost over 5 per cent. Derivative expiry on Thursday turned out to be Highest turnover of 4.02 lakhs.We will be again following the cues from global market as domestic events are over. Services sector data and ECB, BoE meetings in focus from global perceptive.
Last week we gave Trend Deciding level as 5882 Nifty makes the high of 5878 and achieved all the weekly targets. Traders following Weekly trend deciding level should have minted good money.
Below is the chart of how Nifty performs post budget and picture from last few years have been if Nifty corrects before budget it continues the trend from next 30 days also. So pre budget we corrected almost 5% so March has a negative outlook going by previous year data...

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