ASTRO GUIDE FOR 27 & REVIEW
NIFTY 8683.25 (-83.40)
Nifty opened lower and traded with downside bias for the entire day and traded choppy to close with a loss of about 1%. While Railway Budget appeared to be a non event for market, Derivative expiry weighed heavily as most stocks, particularly PSU Banks lost heavily in February Series. Unless Nifty closes above 8840, current down trend could continue. However, significant volatility can be expected in view of the forthcoming Budget. Nifty spot is expected to encounter resistance at 8725, 8765 and find support at 8645, 8610 for Friday. While Global cues, Quarterly results and Funds flow are expected to broadly guide the market movement, based on the present market position, market can be expected to be generally subdued during midsession. However, some optimism can be expected in view of the beginning of new derivative series.