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Nifty was up by 0.8% last week. Tepid Industrial Productivity (IIP) number at 1.8% in December as compared to November was a Shocker along with a revised GDP outlook of 6.9% as against 8.4% in the previous year were the reasons of rally spoilers for the last week.India's trade deficit too has soared to uncomfortable levels of US$ 14.7 bn.

On International Front Greece drama was and will be in Limelight for the following week,Eurozone dismisses Greek budget deal and  holding back the Bailout fund setting 15 Feb as the dealing to Greece to come up with a solid plan worth implementing else Leave EURO zone.

S&P Downgrades 34 Of 37 Italian Banks on Friday.

Lets jump into technical of Nifty.

Last Week we discussed that 5435-50 range being the supply zone with various technical reason (Link to the Post)

Nifty did obliged to us and made a high of 5428 for the last week and started correcting from 5428.

Now Million Dollar question is it a trend reversal or just a correction? Lets try to find answer about it.

 

Nifty Hourly Chart


On Hourly charts Nifty is consolidating in the range of 5320-5428 with 50 Hourly moving average providing a good support.50 SMA Hourly stands at 5352 levels.

 

On Hourly charts shown above i have pointed all the 4 Gaps which have been left unfulfilled from the rise of 4640-428 on Nifty Spot. For a healthy rising markets such gaps needs to be filled as it can be considered as VOID...
Read the full Story

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Group: http://groups.google.com/group/ForexAbode/topics

    "ForexAbode.com" <newsletter@forexabode.com> Feb 10 09:46PM +0900  

    Dear All,
     

     
    Feb 10th- Today's EUR/USD, EUR/JPY, USD/JPY, GBP/JPY, AUD/JPY, GBP/USD,
    AUD/USD & USD/CHF : Technical analysis updated - at
    http://www.ForexAbode.com/.
     

     
    Please check the ...more
    "ForexAbode.com" <newsletter@forexabode.com> Feb 10 10:19PM +0900  

    AUD/USD finding support exactly @ 22-day EMA. Please check the sub-forum
    named "Watchouts-Observations-Alerts" @ http://bit.ly/forex-forum.
     

     
    ------------------------------------------------- ...more

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Group: http://groups.google.com/group/everything-forex/topics

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Group: http://groups.google.com/group/globalspeculators/topics

    RAJESH DESAI <stockdesai@gmail.com> Feb 10 04:07PM +0530  

    Tata Motors stock today hit a 52-week high after the company said it has
    increased prices of its passenger vehicles, except small car Nano and
    premium crossover Aria, by up to Rs 12,000 to mitigate ...more
    RAJESH DESAI <stockdesai@gmail.com> Feb 10 05:42PM +0530  

    concall invite
    --
    CA. Rajesh Desai
    ...more
    "Indinomics" <indinomics@gmail.com> Feb 10 07:58AM  

    Thanks for sharing, Over weight on Hard Disk Manufacturers means firm prices, -ve for IT Hardware Sector.
    With warm reg,
     
    Indinomics
     
    Sent on my BlackBerry®
     
    -----Original Message----- ...more
    RAJESH DESAI <stockdesai@gmail.com> Feb 10 03:24PM +0530  

    RIL during market hours today said that its wholly owned subsidiary
    Reliance Holding USA, Inc priced $1 billion 5.4% Guaranteed Senior Notes
    due 2022. The notes will be fully and unconditionally ...more

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