Union Budget 2021 will be presented on 01 Feb by Honorable Finance Minister Shri Nirmala Sitharaman ji. 3rd Budget in the Leadership of our Beloved PM Shri Narendra Modiji after he was elected again in 2019 with a thumbing Majority.
The mood in the market is quite sour as Nifty is down almost 1000 points from all time High of 14754 which was made on 21 Jan. 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 13966 NIFTY Trend will remain Bearish and any break of 13585 on closing basis can see fall towards 13225/13100/12996. Bull will become active above 13966 only.
9:16/10:54/11:59/12:56/1:42/2:25 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 50-75 points ,use TSL for Nifty
Below are the Nifty range from 1999-2019. Maximum Range on Budget day is 384 so big volatile move on cards, so trade cautiously.
Out of 25 Budget Presented When Nifty started Trading we have 12 Budget where we had Positive Close and 13 Budgets we had negative close.
Budget 2020s 2.4% drop in Sensex, the worst budget-day plunge since 2009.
On most occasions, benchmark indices Sensex and Nifty have mostly ended with a muted response after registering high volatility throughout the session. Below is Intraday Chart of Nifty of Budget 2020
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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