Union Budget 2015:Nifty Weekly Analysis

Last week we gave Chopad Levels  of 8840  and discussed nifty is ready for pre budget rally but last week Nifty on Weekly basis has the smallest range in past 15 years. Weekly Range was just 120 points and the expected Pre Budget rally was not seen. We saw a roller coaster ride in last week with Nifty and Bank Nifty swinging wildly and both indices in small range. Coming week has 6 trading session as market will remain open on Saturday as Union Budget will be presented. I have discussed which traders can use as an Input to their trading plan for coming week Stock Market Response to past Union Budget and  Option Trading Strategy for Union Budget 2015 .Lets analyze how to trade next week.

 Nifty Hourly Chart

Nifty Hourly charts has taken support at its  21 HEMA on downside and is near strong trendline resistance on upside from where Nifty has turned back 2 times before, Closing

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