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Trading Index on 01/02/2019 (Budget Day)

Home > Market > Trading Index on 01/02/2019 (Budget Day)

Trading Index on 01/02/2019 (Budget Day)

Posted on January 31, 2019 by Kalyan
0

Today is the budget day.  This is the last and interim budget of the present government.  Market expected to be volatile depending the budget announcements.  Hence trading must be done cautiously.

Trading limits for Nifty and Bank Nifty on 01/02/2019.  Taking Long / Short position depends on how the market moves.  If NIFTY Future trades above the crucial level of 10,785  long position can be taken or if it trades below the crucial level then short position is suitable for trade. Target and stop loss limits for both long and short positions are:

Long / Short Entry Level Target 1 Target 2 Stop Loss
Long  10,807  10,853  10,897  10,785
Short  10,763  10,726  10,667  10,785

If BANK_NIFTY Future trades above the crucial level of 27,162, long position can be taken or if it trades below the crucial level then short position is suitable for trade. Since the index is range bound and indecisive, one must trade cautiously. Target and stop loss limits for both long and short positions are:

Long / Short Entry Level Target 1 Target 2 Stop Loss
Long  27,216  27,346  27,453  27,162
Short  27,108  27,010  26,846  27,162

 

Disclaimer:  Information provided on this website is free and does not constitute Trading advice. These are the possible limits for up and down movement of the index.  Traders are requested to do their own analysis & research before making any decision to  trade and also advised to get expert opinion before making decisions based on the information provided here.

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