BharatJhunjhunwala

Nifty is able to save 11900 then there are good chances that

NSE:NIFTY   Nifty 50 Index
We could have happier if we could mark the same bullish counts on Nifty too, but the Nifty’s chart is bit confusing. This may be due to the 2020 Union Budget. The markets reacts to an big event like these in just the opposite way before the event, this is because of sentiment overshoot. You may have noticed that generally before a big event the markets correct. While the options premium says everything about the current sentiment spur, the charts speak the fact. Nifty has to save 11900 on closing basis below this level it may drag itself to 11550 & 11210. However if Nifty is able to save 11900 then there are good chances that Nifty may pullup to 12250, 12400 & 12900 levels.
Bharat Jhunjhunwala
MFTA,CMT,CFTe,MSTA
http://www.prorsi.com

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