waiting for budget.

Now, the Friday's trades shows that the mid day flare up was faded out at the end may be because of week end or a real bear turn.  Every study shows that at the most markets will go up to nifty 3020-3050 and very steep fall. Open interest build up is not supportive to this view. But the position can be changed intra day with in half an hour.  Another version is that many budgets were resulted in market fall.  So what about now?

If some thing happens to bullish side the range is up to nifty 4200 at mid 2009. But if it is not true we may see new low in March. For February we may not see major fall. Wait for two days. Then think. Now that we can not predict event result. 

Check for freek trades in the morning that may be a clue for the end day target.

Anoher clue from ONGC = if ongc closes above 740 then entire market is in bullish for mid term.