Feb 12...When Nifty touched 200-week moving average
The 200 week moving average provided support and base but that was not sufficient trigger for market to rally. That came on Budget day. On Feb 16th, I wrote this note in article titled "Budget sey Budget tak"-
Well we are back to Feb. But this is Feb 2016. Things are looking bad fundamentally but remember markets have priced in the bad scenario. Nifty is now standing at Ultimate support level and it needs to be seen what's in store for us next 12 months.
There is nothing to fear now but fear itself
My feeling: Nifty is at make or break level and this Budget can either push it down to total chaos or provide a new life that can re-start fresh Bull market. Ab jo hoga woh to waqt bataayega.
Feb 29...THE BUDGET - The Catalyst for the rally
Nifty has rallied 11% from the base of 200-week moving average
It's no surprise that trade opportunity that got triggered between Feb 12 and Feb 29 have turned out to be great winners.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers