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 2020 with a thumbing Majority.
The mood in the market is quite sour, no two ways about that, the Bank Nifty is down almost 2500 points from all time High of 32842. 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 31111 Bank Nifty trend will remain Bearish and any break of 30254 on closing basis can see fall towards 29786/29318 Bull will become active above 31150 only for a move towards 31501/31890/32225
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 150-200 points ,use TSL for Bank Nifty
Union Budget is just 1 days away, Below are the Bank Nifty range from 2006-2020. Maximum Range on Budget day is 1165 points so big volatile move on cards, so trade cautiously.
Out of 17 Budget Presented When Bank Nifty started Trading we have 9 Budget where we had Positive Close and 8 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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