Good Morning All,

Today is the biggest day for India and the Indian government, The last budget of the present Government will start at 11AM today!
We should expect the budget to please the middle class or in other words the retailers!
Would we see some changes to our taxation policies or a lot of allocations towards retail spending?
Either way this one will be rocking the market and there will be wild moves on every word our FM says.
She usually carries a red file that contains everything about the budget. If anyone is watching you will see her carrying it around. It is the most important document that will make or break the market too.
There will be no trades today but I am inclined to go long for today!
Market is expected to open gap up but do not expect it to be easy. Its going to be very volatile at opening and then market will be extremely flat and will wait for the FM to start announcing policies. As she announces, market will digest every work and based on that it will swing. Not a place for people who are new.
Today is a day to watch and enjoy the market!
Do note that tonight is the FED meeting and tomorrow is the RBI meeting all of which are new driven events which are going to drive the market wild!
So unless you have a pretty deep pocket, Would suggest staying out for the next 2 days.
If NF breaks the 17500 mark and the BNF breaks the 39700 mark (Mondays low), We will see a blood bath! On the upside there is no limit but we would need something concrete for the FII's who are strong sellers for the past week to cover their positions.
If nothing major is announced expect the market to erode premiums quickly!