This assumption is fuelled by weak closing in EUropean and
US markets.
Nifty closed near important support level of 4858 and closing near important support levels always brings correction the next day.
Due to budget almost everybody in India is very pessimistic and is ready to open short position and so much pessimism may bring reverse strategy by punters and market may give positive surprise during and after budget.
On the higehr side if Nifty crosses 4884 then we expect some rally and Nifty may test recent resistance level of 4921 in that case.
Nifty has last hope at 4788 level and if this is breached then we may see very lower levels and Nifty may fall down all the way to 4731 and 4677 levels.
| Important Nifty Levels for 26th Feb | ||
|---|---|---|
Nifty Pivot | 4856 | |
| Support | ||
| 4832 | 4804 | 4788 |
| Resistance | ||
| 4884 | 4896 | 4921 |
| Important BankNifty Levels for 26th Feb | ||
|---|---|---|
BankNifty Pivot | 8524 | |
| Support | ||
| 8496 | 8454 | 8411 |
| Resistance | ||
| 8538 | 8578 | 8617 |
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