The Finance minister presented the union budget . It was a conservative and well choked out budget.Not only has he cut the fiscal deficit to 5.5% in the coming year,but has promised to cut it to 4.8% in FY12 and 4.1% in FY13.Which is very positive sign.Markets reacted well and once nifty started trading above 4885 it zoomed past the strong resistence of 4920-4930 to make a high of 4992.Nifty future even crossed 5000 levels.Later part of the day there was selling pressure and towards the end it closed below the all important 4930 level.Now that all the events are over its back to normalcy frm next week onwards.Monday is a holiday due to Holi, we have 2 sessions of international markets when we open on tuesday the 2nd March 2010.We have seen the effect of the time cycle date of Feb 26th with a 400 point rise in sensex and then a fall of 250 points frm the highs.March 1st which is a holiday is also another time cycle date.We should see the effect of that on Tuesday March 2nd.
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