Budget may trigger either Nifty 9,000 or Nifty 8,000

Q3 results have been poor but better than extremely low expectations

The stock market is showing some nervousness in response to policy actions in the US and in anticipation of the Budget and assembly elections. Thus far, third quarter results have been poor but better than extremely low expectations.
 
Hopes of Budget sops will keep bulls interested. There are counter-balancing fears of populist measures and of tax hikes. Overseas, the Trump administration has taken actions that damage prospects for information technology, Pharma and other exporters. The Nifty moved up until it hit resistance in the 8,670 zone. There is good support at 8,400-8,450 and lower down, at the 200-Day Moving