Budget impact

Indian market is expected a final positive closing for the budget day closing. Though the negative points are in the economic system the markets will have to rise from these levels at least for one/two months. Hope the downward swing on the budget day may be taken as a chance for a buying in stocks. The FII data is bullish in F&O but selling in cash that may get reversed soon.

Nifty after a bounce from 5180 pauses the rise at 5480-5481. Now for tomorrow if nifty crosses 5530 then the rise will continue for the next week also and the settlement may closes positive month on month. If nifty breaks down 5440 then the fall may continue and first retest the recent bottom. As far as news is concerned there is no major negatives for markets.

Nifty future may take support at 5140 and the rise may be up to 5380. But the reversal has not yet confirmed. Be cautious in longs with a stop loss 80 points below where you take position.