Pre-Budget 2021 Technical Outlook: Axis Securities
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Axis Securities Report
Nifty has closed at all time high indicating strong and sustained up trend across all the time frames.
Though our bias still remains positive, we observed some early signs of profit booking in this overstretched rally, hence traders are advised to wait and watch for short term corrections to create fresh longs.
As the Union Budget is near, we can expect good volatility into various stocks which can trigger violent moves on either sides.
Bank index has closed at all time high indicating strong and sustained up trend across all the time frames.
Auto sector has been one of the best performers and still continues to outperform most of the other sectors.
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