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Nifty Outlook for 28-02-2011 (Budget Day)

Nifty is all set to face the Budget Day with weaker technicals. We have already communicated in the blog to go short/ hold short for our positional holders on friday. We expect wild swing during the hours of budget session, however we feel the opportunity is for the bears on monday. Technically, we do not see any opportunity for bulls to control the market on monday. Considering the volatility during budget session we recommend you to go short on intraday basis using the following levels:
SELL @ 5375~5415 with SL @ 5450 for targets of 5305~5265~5235.
We will also keep updated during the budget session is live.


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