Nifty - Profit from Volatility during Budget week.

After analyzing multiple timeframes, these are some levels which should playout during the next budget week. Lots of volatility is expected so trade small to minimize risk.

Profit Booking zone - 8730-8760 (Multiple resistances)

First support - 8540-8560 (People who have missed the rally would try to jump here)

Buying Zone - 8430-8460 (Multiple supports)

8300-8330 - Strong Bulls waiting there.

Cheers!

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First support 8550 has come ..Bounce likely from here. Stop loss only 15 points below today's low.

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Boom! Got 50 points in 5 mins...

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& 100 points on BankNifty.

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Bounced from 8540 twice. This zone of 8540-60 is proving to be a good support.

8450-60 will be an excellent opportunity to buy if it comes there. Provided no LTCG.

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Amazing! Nifty's low 8537 and high 8722. In the post above see the boundaries to play with on budget day.