Key benchmark indices able to close positive this week as buying was witnessed in frontline stocks. Market opened firm at the onset of the week, it later slipped after Fed Minutes released on Thursday. At the time of announcement of the Interim Budget Finance Minister P Chidambaram cut the fiscal deficit target to 4.1% of GDP for 2014-15 and cut the excise duty in automobiles. Going ahead, Macroeconomic data on 28th Feb, trend in investment by FIIs, trend in global markets, the movement of rupee against the dollar and crude oil price movement will dictate the near term movement on the domestic bourses.
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. ictate the near term movement on the domestic bourses.