The budget day session saw heightened volatility yesterday and finally Nifty closed the day near to the open around 5333 levels after testing 5477 levels.
It has formed a gravestone doji pattern in charts and after the bearish move for expiry on 24th feb and a small consolidation yesterday, there is a chance that Nifty can start a mild bullish rally in the month of march. A close above 5406 levels at this stage would confirm the bullish move and can push it to test the 200 DMA around 5645 levels.
Resistance levels : 5380, 5406, 5432
Support levels : 5304, 5273, 5243
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