Thursday, February 28, 2013

Budget Impact: Nifty Trend For Today

As the Finance Minister P Chidambaram announces the Union Budget today, the market has opened on a good note. However, it is mostly the global cheer that has uplifted the market and Budget expectations will follow soon. The Sensex was up 165.51 points or 0.86% at 19317.92 while the Nifty was up 49.35 points or 0.85% at 5846.25 in its early trade. 

Nifty Trend Today
Nifty closed on a bull note at 5796. So today the first resistance for nifty is at 5870 level. Next resistance ranges are at 5930-40 levels. On downside first support is at 5770 level. Next supports are at 5720-15 level. Nifty is still in bear zone and a strong close above 5841 is atleast required for the bulls to resume bull movement.

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