Nifty Outlook for Next

Week

Nifty Had Broken the Vital Support Base of 5000 & Trading Below it. Technically Nifty is Looking Week. In the Previous Week There Were two Important Events Which did Affect the Market.

First the Expiry of F&O & Second the Credit Policy Announcement. In the Credit Policy Announcement RBI Hike CRR By 75 Bps. Repo, Reverse Repo Unchanged.
The RBI Hiked The CRR By 75 Bps To 5.75% From 5%. The Move Will be Implemented in Two Stages; 50 BPS Hike W.E.F February 13 and 25 Bps Hike W.E.F February 27. This CRR Hike Will Absorb Rs 36,000 Crore of Excess Liquidity From the Markets. However, the RBI Kept Repo and Reverse Repo Rate Unchanged. The Revision in GDP Forecast to 7.5% from 6% was a Surprise for the Markets.

In this Week I Expect that Nifty Could Trade in Negative Territory & One Could go for Sell on Higher Level Strategy Until it Close Above 5000.

Technical Resistance: 5000 & 5175

Support: 4750 & 4550


Stock Futures to Watch in Next Week.

Oriental Bank of Commerce

This Stock Future is Looking Promising One for the Long Side.
In This Stock we Had Seen Good Fresh Position Built up & Rise in Open Interest Also & the Kind of Pattern it is making in Charts Indicating That it Could Make Good Breakout this Week.
We Recommend This above 297 for the Target Of 320 & the Stop Loss Would be Around 289Levels.

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