A morning walk down D-St: No sell signals on lower time frame charts, things still advantageous for bulls

Nifty rallied 1.4 percent and is now less than 2 percent away from record high while Sensex added 508 points or 1.33 percent in the same period.

Among sectors, Nifty Bank rallied 2.8 percent during the previous week, followed by Nifty Energy and Metal which gained 2 percent each. The broader markets outpaced frontline indices as Nifty Midcap index climbed 2.9 percent. 

Macro data is something that will dictate the trend for Indian markets and the possibility of record highs remains strong in the first week of the new financial year.

Most experts expect a cut in the repo rate of up to 25 basis points. According to them, it looks like the market has already priced it considering the way the market has moved from February 19.