Welcome to the start of the new rally! Nifty Hourly 27-02-15

Hi,

A Great trending day just before the annual budget. Nifty gapped up and stayed above only to close at 8851.25 up 1.8%. As shown yesterday the correction was ended and the start of the new trend is now in place and remains the affair unless the prices cross the low  8669.85. Although a confirmation is required tomorrow and if we close positive for tomorrow March maybe the date where we reach the all time high one more time. I am personally looking for Nifty to reach 9150-9350 range and only after which should there be any significant correction. 8875 will play an important role and if it crosses this level there should be a new high round the corner

nifty

Pivot – 8809

Resistances – 8870, 8898 , 8951

Support – 8786, 8774, 8740

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