Hurdle 8935-8948 zone
Sustain above this gates open for 9100/9150
Support zone 8880 below which yesterday low is next crucial levels.
Much awaited day of union budget 2015 is here, and markets closed on a highly positive and bullish note on friday’s trading session.
Nifty recovered all the correction made during the first four days of the week on friday’s trading session. After opening at 8769 it was just a one way move slow and steady and picking up pace in the later half of the day making intraday high of 8900 and the closing at 8889.95 almost near the highest point of the day.
For day today nifty future if remains above 8900 the hurdle of 8948 is the crucial level to watch and any positive surprise from finance minister today will push markets higher towards 9100/9150. From chart above we are near the breakout zone of the trendline so avoid making short positions till levels do not confirm and if holding long maintain strict stop loss in your open positions.
Discloser: Holding Longs in nifty around 8800 lvls (avg)
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