Will the rally in NIFTY continue post budget?
Two great sessions for NIFTY on the budget day 237 points and 237.9 points on the pre-budget day. Can the momentum continue for reminder of the week. Last week NIFTY was seeking support from it's 200 days EMA and today NIFTY has ended comfortably above it's 20, 50, 100 and 200 day's exponential moving average. This is a remarkable turnaround and if FIIs join in 18K might not be far away. Let us not get away from the present though. Resistances on the upper side are 17622, 17701, 17791 which will be a strong resistance above that we will have 17912 and finally 18063. On the lower side supports are at 17254, 16989, 16830 and finally a strong 200 days EMA support of 16621.
Happy Candles Investment
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