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Market gives big Thumbs up to the Union Budget: Angel Broking Posted On: Market Wrap-up by Mr. Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking): "Post the last week's collapse, our markets started the day on a positive note with optimistic expectations from the Union Budget. The indices traded with a positive bias as the Finance Minster announced the budget and then, we had a one way upmove post the budget speech to conclude the day tad below 14300, with whopping gains of almost 5 percent. We had a decent correction in the week before the Budget and the market participa...

SELL NAUKRI | TARGET: Rs 4,250 | STOP LOSS: Rs 4,600 The stock has formed a bearish engulfing candlestick pattern on the daily chart which is considered as a bearish reversal pattern. The momentum indicator RSI has also reversed from its overbought territory and MACD has provided fresh sell crossover which hints of further weakness in the counter. The stock also witnessed built up of a short position on the derivative front. Based on the above rationale we can expect a fresh weakness in the counter. SELL M&M FIN | TARGET: Rs 154 | STOP LOSS: Rs 171 The stock has provided a breakdown from a ...