Hi All,
It's official - Post Budget Rally of almost 3%... Hence proved History Repeats itself....
As expected, the Nifty shot up smartly
after breaching the 7150-7160 mark and currently trading near 7210.
On the higher side 7250-7260 remains the
next hurdle for markets and if it crosses and sustains above it then 6820 may be
called as the short term bottom.
On the safer side, it is advisable to book
all the profits in the longs initiated at lower levels and wait and watch for
7250-7260....
On the lower side, 7150-7120 will now act
as crucial supports and below which Nifty can slid further till next supports
near 6970-6950-6920-6900-6870-6820.
Nevertheless 6820-6800 remains very crucial
levels to watch out for an even bigger move....
Cheers
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