Nifty Weekly Technical Analysis for Week Begining 19 March

The Last week promised to be an eventful week but turned out to be an non event week.
RBI did not pulled any trigger on Repo cut and further putting court in Government of India court asking them to cut the fiscal deficit and move towards fiscal consolidation.
If you do not take steps towards fiscal consolidation we will not cut rate was the clear cut signal. Market reacted negatively on that day!!
Next day being the Budget day also proved uneventful with no major reforms getting into picture. But on Whole my personal Opinion is Budget was quiet balanced with more focus on fiscal consolidation.Reduction of Fiscal Deficit from 5.9% to 5.1% would be a tremendous Job if achieved.
Market Reactions from the coming week after  Budget Day from past 4 years is presented below....


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