On Friday... Nifty future gained smartly before Union budget. We clearly indicated that we will expect volatility in Nifty and a dead cat bounce could possible.
Our sell call in Reliance Infra around 410 proven great and hit 402 mark.
We booked full profit in Ashok leyland too.
Now what to expect today?
Nifty spot.. Support at 6960 and resistance at 7055---7090. Below 7008 we will see panic till 6986----6961. Break and sustain below 6960 will see more downside panic till 6923---6876 mark. 6850 act as major support in Nifty spot.
Else it could test its resistance level of 7055---7090 again. Further upside rally will see only close above 7090 mark
We will expect high volatility in today's trading session as all eye on Union budget. So traders can trade safely with levels only. If budget fails to satisfy FII+ retailers + DII then we will see sharp downside move in it. Lets see what is in the red suitcase of our Financial Minister.
Have patience... More levels will update during market hours
Today's top pick
BHEL future... Looks weak below 94 and could test 90.50---88.00 mark. Hurdle and stop loss above 97.
Another top pick
Buy ITC future above 289 with stop loss of 285 for the upside target of 295
Trade safely in small quantity....
More levels will update during market hours.
