NIFTY OUTLOOK
Nifty holding 200 DEMA on close
Nifty holding 200 DMA on intra-day basis
Alert: 200 DEMA at 17600 and 200 DMA at 17300
Yesterday’s low was just 100 points higher than 200 DMA
((Show the Nifty lower high and lower low plate again))
Nifty needs to make higher low to soothe nerves
Post budget rally possible if no change in tax and fed hikes by 25
BANK NIFTY OUTLOOK
Very strong buying in Banking stocks in last hour
ICICI Bank, SBI led the recovery of last hour
Yesterday’s low now meaningful for Bank Nifty
Need to see post budget behaviour of Bank Nifty
“Buy on dips” and “Sell on rally” both working
((Show Bank Nifty lower low plate again here))
Intraday 17500 and 17650 important sustain beyond can see good moves.