The "D-day" is now here.
The Big Budget day which everyone is waiting for is now here.
Market has too many shorts which have been rolled over to this series.
And option data shows that 9000 is still a strong resistance.
Market may now open tomorrow around 8930-8950 and may even test
9000. But very unlikely to hold and close above 9000.
If it closes above 9000, then we may see further rally. Else we need
to closely watch and see if there could be any reversals coming in.
There is a popular saying in the market - "Buy on Rumour, Sell on News".
Since market has moved up, now after tomorrow's event if market does
not sustain, then we could probably see profit booking coming in.
Keep trailing stop loss and preferrably book profit around 8950-8980.
The Big Budget day which everyone is waiting for is now here.
Market has too many shorts which have been rolled over to this series.
And option data shows that 9000 is still a strong resistance.
Market may now open tomorrow around 8930-8950 and may even test
9000. But very unlikely to hold and close above 9000.
If it closes above 9000, then we may see further rally. Else we need
to closely watch and see if there could be any reversals coming in.
There is a popular saying in the market - "Buy on Rumour, Sell on News".
Since market has moved up, now after tomorrow's event if market does
not sustain, then we could probably see profit booking coming in.
Keep trailing stop loss and preferrably book profit around 8950-8980.
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