Sights Set on Union Budget 2023

When the market stays in the same range for almost four weeks straight, there isn’t much else to say about it. Also, over-analysis should be avoided. That is because over-analysis tends to find factors that fit a certain argument or point of view, which can always lead to unwanted complexity. This is mainly because once the mind has fixed itself to a point of view it becomes difficult for it to accept new information. Bank Nifty’s performance versus Nifty remained a bit sub-par although no alarm bells of any kind were heard. During the last five trading sessions, Nifty traded with an upward bias, forming higher high and higher low candlestick formation and on the way up it reclaimed its important short term moving average of 20 DMA as well.