Nifty ended the first day after Union Budget in green with gains of ~0.5%
Going forward I believe that 5650-5590-5540 will be good supports in the lower side, whereas 5750-5800-5825-5885-5925 will be the resistance areas to watch out for.
Nifty is trading in the oversold region, hence going short at this level might not offer good risk reward ratio. It's advisable that traders trade with strict stop losses.
The lows of the Budget day would be very crucial to watch out for in the near term for major indices and stocks as well.
Warm Regards
Team ATC
Going forward I believe that 5650-5590-5540 will be good supports in the lower side, whereas 5750-5800-5825-5885-5925 will be the resistance areas to watch out for.
Nifty is trading in the oversold region, hence going short at this level might not offer good risk reward ratio. It's advisable that traders trade with strict stop losses.
The lows of the Budget day would be very crucial to watch out for in the near term for major indices and stocks as well.
Warm Regards
Team ATC
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