NIFTY VEIW
As after the budget nifty rally from a low of 8537.80 of this week to 8756.40 on 2 feb. 2017 this clearly indicates that nifty taking a support of 8550 which now act as major hurdle for sellers. But as nifty made a high of 8968.70 in september 2016 & then made a low of 7916.40 in november 2016 which clearly indicates that 8970 act as a important resistance level for nifty.
Recommendation:- For short term period buy nifty in between 8670-8730 with a stop loss of closing below 8555 for the target of 8920. & then wait for the level of 8970 if that cross we will see more upside otherwise a fall will be expected.
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