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Tuesday, January 31, 2017

Budget and Indian stock market


 #budget is considered one of the most imp event for Indian Market as it decides tax structure as well as policy for economy .Indian stock market has seen rally in anticipation of very good . Nifty has rallied  over 700 points and bank nifty over 2000 points just in between December  2016 end to January 2017 end  !This converts into return of  about 9% within a month !

  Traders and short term investors who had purchased at lower level have already started booking profit for 2 days .Any disappointment is enough to pull market further down . Experts too feel that the budget is  already priced in. I too had advocated for the same with following tweet . 
  

Nifty facing resistance at 8660

 Above resistance will be crossed if  market  gets better  reward than expectation. Unsurety about the rewards  has already pushed volatility index up and it is likely to stay higher till the event gets over. Meanwhile market regulator SEBI has  turned more vigilant for the event .

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