If Budget 2017 disappoints, Nifty could fall below 8,000

January 25
11:39 2017

Devangshu Datta The stock market continues to log gains although there are signals that a correction could be imminent. Earnings so far have not been great but poor numbers were already discounted due to demonetisation. Hopes of Budget sops are keeping bulls in business. The Nifty has moved steadily up since it broke out past the 200-Day Moving Average (now at just above 8,300). If we go by history, the market could trend up until the Budget at least. That policy document might be a watershed, either causing a steeper uptrend or leading to a sharp correction.  Support would be ranged at …

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