Nifty (7585) we said ‘a very bearish engulfing pattern capable of stalling the up move…technically it is possible that we may see some rallies too but to me it would be more of selling rallies’ the market unfolded as expected and closed in the red… we now have an event day ‘the budget’ the market is expected to be volatile and the bias is so far down…
The support for Nifty is it 7500-7440 and the resistance to the up move at 7730-7877
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