Daily Technical Report (MARWADI FINANCIAL)

US market were closed, Asian market trading lower due to insurers capital is concern. Interim budget there is no positive sign to boost the economy and affected sector, and due to that events market slumps. Now one expectation is that RBI may be further considering the key policy rate cut to provide the further liquidity in the system, that provide some sort of relief to the market. Again the Fiscal deficit is very high so that is the cause of worry in coming times and we have to seen how this things is settle. It may chance to further depreciate the currency value also so it is the crucial things how government settle the deficit.

On technical note due weakness in the global financial market our market open with negative note and through the day will remain in the negative territory. Intraday trader have to wait for down side movement and conformation of the trend they have to make short position in intraday trading.

To see full report: Technical Report 17-02-2009