A look at history: Nifty on budget day

By | January 31, 2020 12:33 pm

Union Budget 2020 will be presented on 01 Feb by Honorable Finance Minister Shri Nirmala Sitharaman ji. 2nd Budget in the Leadership of our Beloved PM Shri Narendra Modiji after he was elected again in 2019 with a thumbing Majority. This Budget will have loads of Expectation. Market will have Close Eye on Fiscal Deficit Number and Removal of LTGC.

The mood in the market is quite sour, no two ways about that, the Nifty is down almost 400 points from all time High of 12430. But the key question now is how the budget will impact the market movement.

29 Jan is an Important time cycle date and till we are below the High of 29 Jan 12103 Market trend will remain Bearish and any break of 11929 on closing basis can see fall towards 11833/11666.  Bull will become active above 12216 only.

9:24/10:54/11:59/12:29/2:38 time for trend reversal,High and Low of trend reversal time on 5 mins Candle are trade levels. High Broken traders go Long with SL of Low of Candle and vice versa for Short.Nifty part book in range of 20-25 points and BN 75-100,use TSL for Nifty/BN

Union Budget is just 1 days away, Below are the Nifty range from 1999-2019. Maximum Range on Budget day is 346 so big volatile move on cards, so trade cautiously.

Out of 24 Budget Presented When Nifty started Trading we have 12 Budget where we had Positive Close and 12 Budgets we had negative close

Most of the traders end up losing a lot of money when trading on the budget day. As most of them are not prepared both technically and Psychologically to adjust with the wild swings in market. Traders having small capital less than 5 lakhs should just stay away from market and watch the show from sidelines. Protection of Capital is 1 Goal of Trader. We will be sharing levels on Twitter and Facebook to help you navigate on Budget day with Profits.

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