Dalal Street Week Ahead: #NiftyFuture Trend Decider For Feb 1st Week: #Budget2021 Special

NiftyFuture last close: 13709.10

The Indian markets tanked more than 5% in the week ended Jan 29, not even Indian market global markets also fell more than 3% to 6%, which was biggest fall since March 2020

Nifty50 tanked 5.14% while Sensex fell 2593 points or 5.31%. Midcap index declined 3.5% and Smallcap index was down more than 2%

BankniftyFuture was consolidated and slipped almost 1% despite Nifty was down 5%

Axisbank, Icicibank, Indusindbank and Kotakbank was sustained with not seen major fall

On overall top stocks was Tvsmotor, Cumminsind, Bajajauto gained over 7% to 10%, Colpal gained 4.5% which was announced better than expected earnings

On top losers Maruti, Tatamotors, Rblbank and Tatachem was dropped 7-12% on last week

In the coming week the big event of the year Union Budget will be presented on Feb 1

The expectations are very high due to country faced Covid-19 pandemic. After the pandemic first budget to be present on tomorrow

The focus on Healthcare, Agriculture, MSMEs and Infrastructure to watch out for in the budget

RBI policy on 5th Feb, Maybe repo rate is expected to remain unchanged at 4%

FIIs turned to selling mode with aggressively for the first time since Sept 2020, they sold Rs 12096 crore in the week ended Jan 29

On other side DIIs turned to buying mode on the weekly basis for the first time in the last four months, they net bought Rs 3788 crore in the week ended Jan 29

Automobile companies will release their Jan sales numbers on Feb 1

On coming week, Hdfc, Bhartiartl, Hindpetro, SBI, Britannia, M&M, Heromotoco, and Divislab will release their earning reports

Icicibank has reported good earnings report on Saturday. Will be focus on Monday

NiftyFuture weekly trend decider for the 1st week of Feb is 13640 and 14200

NiftyFuture fell more than 0.8% on Friday and lost over more than 5% for the week and NF has formed a bearish candle on daily charts as well as weekly chart which was indicated market turned to bearish bias before budget

As per technical analysis, the short term of market continues to be weak but trend will be decide on tomorrow budget

In my view, If there is any positive announcement ( if reduce tax for LTCG or other taxes for stock market) rally will be continue up to 14000 to 14200

If there is nothing like flat, the volatile with profit booking will be continue up to 14000 to 13200

If there is any negative news for stock market like if increase any taxes expecting big fall

However, So many Budget strategies came in social media, But I advice to all better to stay away on Feb 1. Patience is the equivalent of making a profit

Let’s see technical analysis!!

NiftyFuture finding a weekly support at 13640 after budget speech NF if sustains below the level

Expecting more selling pressure and will try to check next supports 13400 and 13150 for weekly basis

NF is facing a weekly resistance 14000 and major resistance at 14200 (Do you know ?on last week I did mention my weekly support at 14250) Last week support now this week resistance.

Suppose if closes above 14200…….. Rally will be expecting up to 14450-14550.

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