The key benchmark indices closed negative in a volatile trading week. FIIs pulling the money from Indian equity market continue and they remain the net sellers most of the session. The WPI numbers for January came in at an eight-month low of 5.05%. Selling pressure continued in Power, Metal and Pharma pack while buying support was witnessed in IT and Auto stocks. Going ahead, interim budget for 2014-2015, which the government will unveil during trading hours on 17 February 2014, the direction of the rupee against dollar and the investment activity of foreign institutional investors (FIIs) will set the tone for the stock market.
Techno- Funda Recommendation
As the prevailing trend of the benchmark index, Nifty, is down in technical trend sheet of our daily newsletter, we are not initiating any fresh recommendation this week. For the pending recommendation, we have updated all the relevant information.