MARKET VIEW

Today market closed just above the support level 4116. The budget presented today, to my knowledge, is a growth oriented budget and market correction should not be related to the budget. Nifty technically waiting for a breakout and budget news triggered it. If I am correct nifty this time will fill the gap created on 18/05/09. I feel from tomorrow onwards every dip should be considered as investment opportunity.

MARKET VIEW FOR TUESDAY

As today there was a steep correction I feel tomorrow there will be a pull back and I expect nifty to close above 4165 levels. If 4116 level is broke with good volume then it will close below 4165 levels. As July 28 monetary policy is to be announced, I feel, till that date there will be lower tops and lower bottoms formed in the nifty price chart. Let’s see what happens tomorrow.

FREE TIPS FOR INTRADAY

NIFTY LEVEL

Technically in the price chart bearish pattern is formed, if nifty breaks 4116 levels, fall will be steep. However keep eye on the open level because I feel tomorrow nifty will close above the open level.

SUP: 4116, 3938, 3862. RES: 4240.

Thanks for visiting!