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NIFTY SHOW

In response to the railway budget markets gave a flat  to negative opening ,as this is an event full week market is looking forward for the outcome of various policies.Today the markets were already in a dampened mood waiting for the result of RBIs rate cut policy,which remain unchanged following which the market started falling like a downpour.From morning the market breadth was negative with 423 advances to 1071 declines.On closing basis nifty has closed above 5373 which is 23.60% retracement level of the previous bull move.Currently nifty is trading above the 20 , 40 and 200  DMA levels.violating these levels will open up bearish alternatives .
                               Traders are suggested to trade with a cautious view ,since the finance minister is going to spill the beans tomorrow.Until the the consequences of the upcoming news regarding budget is clear enough WAIT AND WATCH strategy would be suggested 

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