11,450 key level for Nifty; investors may cut losses if market rises

The Nifty seems to have sustained itself above the support level of 11,500. But, it still appears to have several bearish characteristics. However, there are also some bullish signals. The advance-decline ratios are negative and there are high volumes associated with the selling. However, the VIX is down, which indicates traders aren’t fearful.  But mid-caps and small-caps have lost more ground than the large-caps in the F&O sector. 
 
The rupee remains stable. In many respects, the market is waiting for news flow. Apart from global developments, clarifications may be required about provisions mentioned in the Budget such as the