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Street Signs: Budget may provide breakout trigger, electronics stock & more

The markets on a technical basis are poised to break out in either direction

Photo: Bloomberg
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Photo: Bloomberg

Sundar Sethuraman
Markets wait for that big breakout trigger

The benchmark National Stock Exchange Nifty has moved in a tight 400-point range over the past month. Historically, in the run-up to the Union Budget, the market tends to gain as traders build in positive expectations. The recent movement suggests that traders are not going overboard this time around. Interestingly, the markets on a technical basis are poised to break out in either direction. “The Nifty on the weekly chart is placed between a broader high/low range of 17,800 and 18,200 levels since the past four weeks. Furthermore, the price is also trapped

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First Published: Jan 23 2023 | 6:10 AM IST

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