Today is the important day that the markets have been looking forward to, since the correction from the last 22 sessions, that the markets are witnessing is due to the impending budget especially as to how the FM would manage the Fiscal Deficit and Growth.
Yesterdays bounce after the blood splash on Tuesdays session was just a dead cat bounce which might get further advanced if the concerns about the markets relating to the fisc and growth are addressed.
The technical charts are indicating that the markets are on the verge of some positive breakout if the 5900 hurdle is taken off today making the FNO series to expire on a higher note.
On the lower side any negative sentiments would lead the markets to tank to the 5600 zone, with this outlook, it would be best for the FM to drive the markets and just watchout to trade based on the trend that would emerge post the Budgetary commentary of the FM…….
(Inputs: Mr. Hemanth.V, Faculty TA, Stock Market Institute – Bangalore)