Nifty Futures: TOday is the big day ; isnt it? well statistics have a funny suggesstion; the net movement in budget days for the past few years have been less than or around 2%. So despite the big hoopla it indicates makrket on closing basis may not move beyond 2% in most cases. I would say there are three key themes for the budget this time- 1. where do we keep the fiscal deficit and how do you utlize the funds 2. Do we raise funds globally through low interest bonds 3. How do we try and revive consumption specially rural consumption/ agri sops.( But agri has some systemic problems with require long term solution).
Coming to the short term /mid term trading. I would say until 6950-70 holds today look for upside trades or pull back trades. More so if we hold above 7035. On the upside it will be important to see how we treat the 7130 hurdles. Try and take pull back trades from the highs and another long on clear of 7130.
overall keep the lot sizes low and trade light. Today is not a day for technicals /fundamentals
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