Nifty : Kal , Aaj aur Kal (01/02/2025) Budget Day

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Here comes the long awaited Budget day .
As discussed yesterday , We said that If Nifty sustains above 20 day SMA , then it may kiss 23500 spot levels today ( 31/01/2025) , Nifty today kissed 23500 spot levels today .

Today, Nifty closed at 23508.40 spot levels ,which was highest close after 13th January 2025 consolidation period . This signals that it has formed a base near Modiji Election Highs, which is a very bullish sign .For Nifty on 01/01/2025 : BUDGET DAY , Now 23250 spot levels are immediate support. However, 23820 spot levels would serve as immediate resistance .

As soon as Nifty is holding above 23250 spot levels , Bulls can enjoy the party , and Nifty may kiss 23800 - 23820 spot levels zone. If Nifty breaks below 23250 spot levels , then it may kiss 22900-23000 spot levels on Budget day . On the other hand , If Nifty crosses 23550 spot levels , then it may head to kiss 23800 -23820 spot levels .

A typical budget day starts with Rise in Volatility in the morning , and ends with Fall in Volatility after the Finance Minister ( FM) speech is concluded. For such a scenario , folks can benefit by shorting volatility post FM's speech .

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Thanks for Reading .

Note : Charts and Levels mentioned are for educational purposes only . This should not be regarded as Buy , Sell or Hold recommendations . Visit Disclaimers and Disclosures section of our website www.shriramtradersclub.com