Stock Market Trend For Today 17th Feb'11

"Stock Market Trend"

Stock Market will be quiet consolidating before Budget. It is advised to play safe in the stock market. Here we have some marketing strategies on which traders must make their trading strategies for today.

  

Stock Market to open flat to positive, Nifty has to move above 5515.The short term trend is up. Today’s market is in a process of consolidation. The Intermediate trend remains down, with the Nifty trading below its 200 days and 50 days moving average.Today's market trend is to be decided safely as market is showing integration.

Today's stock trend may be as if Nifty shows strength above 5500 level, then rally to 5540/5625 levels may be seen. If Nifty does not show strength above 5480 levels then selling till 5450/5400/5350may also be seen.

After that big pull-back that we had recently, the Indian market seems to have hit the consolidation path . We are in a trading range for a few days leading up to the Budget. Decisive moves are expected next week due to the F&O expiry and the Union Budget. Also, the latest GDP figures will be out next week. We expect another soft start and perhaps another day of intraday churning within a tight trading band.

Although the stock market has recovered smartly after a three-week low, the situation is still doubtful whether it will continue the rally. The current consolidation may continue for a few days before the move towards 5690. What happens after that is quite undersood. So, be careful and trade cautiously even as the trend remains positive for now.

It is said rightly for stock market," Expect the Unexpected".