NO SUPRISES IN THE RAIL BUDGET……..
Nifty futures opened today on a bearish mood @ 4846. Another day of lacklustre , narrow trading range of only 42 point for Nifty futures. The high was 4884 and the intraday low was at 4842. It closed the trading session at the mid point ie 4868.
Expect volatility to resume in the next 2 coming days. The Budget and Expiry are going to predict the next direction for the market. Any break above 4930 – 4950 reange is going to be very crucial for the market taking it towards much higher trading zone. And on the down side 4800 remains an important and strong support zone, breaking of which will the lead Nifty futures lower to 4720 (200 day moving average).
Our view on Nifty futues is Neutral . As mentioned earlier , Nifty is stuck in a narrow range of 150 points ie between 4800 – 4950 area.Breaking out of the narrow trading range will give Nifty good 200 points move on the either side.
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INDEX : NIFTY FUTURES
QTY : 100 SHARES
MARGIN : INR 70000/-
RETURNS : INR 20000/- AVG/MNTH
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