NIFTY has closed the week as a doji (almost), which was more likely. In fact ahead of the next week's budget, market players would surely become nervous and tend to do more trading than carry over positions.
Asian indices - especially Hangseng and Nikkie have closed lower than 2% and it seems the next week's opening for world markets may be subdued.
Our markets correlation with Hangseng is as high as 97% and that makes a case for worry... (by the way - My monthly newsletter gives details of this- Have you read my monthly newsletter ? you can download it from www.investogyan.com)
The Nifty weekly chart indicates extreme cautionm and one should become extra cautious next week if 4755 get broken.
Happy trading !
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
www.investogyan.com
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