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.