Budget has been basically an "AAM admi" one but the main problem basically lies in world markets movement.Today if Dow jones closes in negative then we might be heading towards 5050 on monday on Nifty.
I am seeing a big move on monday,at one time Nifty was nearly 200 points down today, but later some buying came in, in the form of short covering by some institutions( as such a big swing can be done by only institutions).
The range for the month of March is 5270-5050,either side breakout and closing of the Nifty below/above these levels will be the coming intermediate trend of the market, and as posted in previous articles, i am not that bullish,i would be more interested in buying OTM(Out of the money) puts on monday.
Watch out for reliance as this could lead the fall and weaken Nifty further.
Other view is that if Dow jones closes in +ve today with a good healthy rally then we can expect a flat to +ve opening and I expect reliance to get stronger,and bring the mkt in green for sometime.
Best of Luck!
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