Nifty trying to form a base for rally. Wait and watch till Budget 2022.

 Nifty cmp 17320.

Bulls successfully absorbed selling pressure around 16830 and striked back.

Now nifty strongly trading above 17000 psychological support level.

Weekly close above 17340 would be a strong close for Bulls to rally after Budget event.

Till then it can move in a range of 17340-17100.

Markets awaiting for Union Budget 2022.

Regards,

Suryadev Bandari

Research Analyst