Union Budget 2023: How Bank Nifty moved Past 19 Budget

By | January 30, 2023 7:47 pm

Union Budget 2023 will be presented on 01 Feb by Honorable Finance Minister Shri Nirmala Sitharaman ji.

The mood in the market is quite sour due to  Adani Saga , the Bank Nifty is down almost 4732 points from all time High of 44151 on 14 Dec 2022.

Market is going into Budget with Minium expectation and no News Leak to Media.

On 28 Jan we had Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes., So till 29 Jan Low 39419 we are heading upside.

Plan for next 2 session based on Ratio Indicator 

Long above 40809 for a move towards 41371/42124/42782/43302

Short Below 39399 for a move towards 38837/38084/37426

Union Budget is just 2 days away, Below are the Bank Nifty range from 2006-2022. Maximum Range on Budget day is 1165 points so big volatile move on cards, so trade cautiously.

Out of 18 Budget Presented When Bank Nifty started Trading we have 10 Budget where we had Positive Close and 9 Budgets we had negative close.

01-Feb-2022 Intraday Chart

01-Feb-2021 Intraday Chart

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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