Last Week ( 7 Mar to 11 Mar 11 ) :-
Indian share markets (BSE/NSE) was in RED, if you see on weekly basis.
Sensex was down by 312 points to close at 18174.39
S&P CNX Nifty was down by 93 points to close at 5445
Nifty closed in red in three out of five trading days as sentiment turned negative on account of Japan Earthquake and unrest in Libya and some other region of Gulf countries so crude prices are rising. We feel that global cues may remain negative in the coming week too.
Week Ahead ( 14 Mar to 18 Mar 11 ) :-
Though Indian markets look very strong on charts but Global cues may not help our markets in breaking above 5,400 and Nifty may consolidate between 5200 and 5400 in this week. We feel that one can remain long in market till Nifty breaks 5200 on downside. In the month of March 2011, FII have been net sellers to the tune of Rs 1491 crores while domestic funds (DIIs) are net buyers to the tune of Rs 81 crores.
Important events which the markets will be tracking closely are RBI Credit policy (17th March, 2011) and advance tax nos from large cap companies (16th March, 2011 onwards)
Stay tuned to BelltheBull Blog for more news on Indian share market !Google+