3-7-2009 trading ie., the day of Railway budget shows that the markets took a bullish view in the second half of the day and nifty closed at 4424 +75. Today is budget day. As seen from previous day's trend along with FII data, F & O data, option writings are showing a bullish view. This may lead to a up swing further even after budget.
A precaution: If markets rises and cannot take the steam to the next day then there is a chance of forming the right shoulder in the daily chart and markets may took down ward journey for the medium term. The time to the downward break is 13 - 7 - 2009.
A precaution: If markets rises and cannot take the steam to the next day then there is a chance of forming the right shoulder in the daily chart and markets may took down ward journey for the medium term. The time to the downward break is 13 - 7 - 2009.
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