Union Budget Trade Plan 01. 02. 2021


NIFTY


We have been through an exceptional volatile week. Selling pressure on both the two major index continues. Nifty will have to reclaim 14k levels to gain a "buy on dip" scenario. Fii continue to sell in futures with a 60% to 30% odd stance where short sellers hold the higher weightage.


BANKNIFTY Resistance Zone - 31037.070/30801.285

Support Zone - 30329.715/30093.930


Trade: will look to create a short straddle at market opening or possible bearish call spread during the day.