Anil Singhvi’s Budget Day Strategy: Nifty Pre Budget-range 11,900-12,000; Bank Nifty Pre Budget-range 31,375-31,600

The Indian equities are likely to be cautious today, July 5, 2019, the day when the Union Budget will be presented by the Finance Minister Nirmala Sitharaman. But, the real movement of the market, either positive or negative, can be seen after the budget presentation comes to an end. 

Data analysis of past 12 budget day session – 10 full and 2 interim budgets – in last 10 years (between February 16, 2009, to February 1, 2019), shows that the market has witnessed swings in both positive and negative directions. In fact, six times Nifty has remained bullish and six times it has surrendered to the bear. 

Earlier on Thursday, July 4, 2019, a day before the announcement of the Union Budget 2019, the benchmark indices advanced and closed in Green. Yesterday, Sensex at the Bombay Stock Exchange gained 68.81 points (0.17%) to close at 39,908.06 while Nifty at National Stock Exchange added 30.00 points (0.25%) and settled at settle at 11,946.75. Similarly, Bank Nifty climbed 89.55 points (0.29%) and closed to end at 31,471.85.

Zee Business's Managing Editor Anil Singhvi's Budget Day Strategy for July 5:

Nifty Pre Budget-range: 11,900-12,000. 
Nifty During Budget Speech and Post Budget:
11,825-11,850 support range, 12,075-12,100 higher range. Expect big move if breaks this range. 
Post Budget final support for Nifty 11,600-11,650 range. If closes below this trend will be Negative. 
Close above 12,100 will make trend super bullish

Bank Nifty Pre Budget-range: 31,375-31,600.
Bank Nifty During Budget Speech and Post Budget:
31,050 -31,150 support range, 31,600-31,750 higher range.
If closes below 31,000, the trend will be Negative.
If closes above 31,800, the trend will be super bullish. 

For Existing Long Positions:

Nifty intraday stop loss 11,875. 
Bank Nifty intraday stop loss 31,225. 

For Existing Short Positions:

Nifty intraday stop loss 12,000. 
Bank Nifty intraday stop loss 31,650.