Pre-Budget Rally - Technical Analysis Of Nifty and Banknifty 19Jan18 - Booked Rs 9000 Loss

The pre-budget rally is in progress and good results by many companies have added to it. The speculation that FDI will be allowed in bank has taken the banking stocks up. IT companies are showing good results and leading the rally. The 38 mirror of fib is at 10980 which will be crucial level for this market. The market is expensive with a PE of 27.5 but at the moment, liquidity is the king. Enjoy the ride till it lasts but remember - nobody has become poor by booking profits.

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