# As we have seen short term trend in Nifty has changed to BUY. We have seen the Nifty Index traded with a range of 100 points entire week.
#As per the previous week report nifty has taken resistance 7450 and closed on Friday with weekly gain of around 25 points.
#The ECB last week has given a hefty stimulus increasing the depth and breadth of its stimulus package. The Central Bank reduced all 3 main interest rates pushing the deposit rate further into negative territory to -0.4% from -0.3% in order to boost inflation.
#Ahead of the coming week, The most likely events which will affect the markets.The Federal Reserve is not expected to take action on interest rate at the conclusion of its two day policy meeting at 18:00GMT, or 2:00PM ET, on Wednesday.
# Economic data:
March 14 2016
12:00 PM WPI Inflation YoY FEB
12:00 PM WPI Fuel YoY FEB
12:00 PM WPI Food YoY FEB
12:00 PM WPI Manufacturing YoY FEB
05:30 PM Inflation Rate YoY FEB
06:00 PM Balance of Trade FEB
#. 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 0.89 with 2902 Advance and 3248.
2) Nifty Index market maintain at 1.04 with 101 Advance and 97 Declines.
3) PE: 20.27
.4) RSI: 46.41
5) PUT/CALL Ratio (PCR): 0.96
6) INDIAN VIX: 17.10
#. Above technical and fundamental data NIFTY may take resistance at 7550-7582-7605 if further a positive close above 7600 may pave the way to test 7680-7700-7720- 7750- 7810 -7840-7890.
On the other hand, any weakness at 7470-7440-7425 band, the sell-off below 7425 may drag the Index to 7400-7375-7350-7335-7270-7240- 7225-7185-7140- 7070-7040-6960 levels this week