A look at history: Bank Nifty on budget day

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 Bank Nifty is down almost 2000  points from all time High of 32613. 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 31082 Bank Nifty trend will remain Bearish and any break of 30835  on closing basis can see fall towards 30500/30250/29987.  Bull will become active above 31100 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 815 so big volatile move on cards, so trade cautiously.

Out of 16 Budget Presented When Bank Nifty started Trading we have 9 Budget where we had Positive Close and 7 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.

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Follow on Twitter:https://twitter.com/brahmesh

Leave a Reply