Nifty Is Trading In A Range Of 80 Points, Taking Cues From Choppy International Market

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Nifty is trading range bound at 8450-8375, budget expectations to give either side breakout. A range bound trading session was witnessed yesterday where nifty moved in a range of 45 points and as results of larger cap companies are coming out some volatility is expected to return on the markets. The past six trading sessions has seen a movement of 85 points which suggests that a big move either side is on the cards and with budget date on Feb 1 a pre budget rally can be expected.

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Yesterday three banks declare its result Yes Bank, Federal Bank and Axis Bank. However market remain neutral on their result.

The past few days data in both the cash and derivatives markets have been neutral giving no clue of the mindset of big players.

Nifty Future is opening at 8423 as per SGX Nifty at 8:50 am IST,almost 16 points below its previous close of 8439.

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