# As we have seen short term trend in Nifty has changed to BUY.we have seen the Nifty Index traded with a high volatility last week due to the Union Budget.
# The Global Markets rally continues yet another day on the cues from the ECB to announce hefty stimulus on 10th March. The RBI Interest cut expectation is still boosting investors sentiment.
# Economic data:
Friday March 11 2016 05:00 PM
Foreign Reserves 4/MAR
Industrial Production YoY
Manufacturing Production YoY
#. As per the fund flow in NIFTY FII’s have the buy position on other side DII’s are supporting the market with their average buy position.
Technical Nifty index data:
1) NSE maintain at 2.18 with 5264 Advance and 2420 Declines.
2) Nifty Index market maintain at 2.44 with 176 Advance and 72 Declines.
3) PE: 20.24
4) RSI: 45.88
5) PUT/CALL Ratio (PCR): 1.00
6) INDIAN VIX: 17.88
#. Above technical and fundamental data NIFTY may take resistance at 7520-7555 if further a positive close above 7555 may pave the way to test 7580-7670-7700-7760-7815-7850.
On the other hand, any weakness at 7520-7555 band, the counter rally with a profit booking may drag the Index to 7400-7365 band, further sell-off below 7365, may drag
the Index to 7330-7300-7265-7240-7225-7180-7140-7070-7000-6970 levels this week.