Banknifty Weekly update: Will Union Budget 2014 give rally towards 16000++ level..??????

(BANKNIFTY WEEKLY CHART)

Banknifty after crossing the hurdle of 13400 made a high of 15742 and after this bull run its resting from last one month by trading in broad range of 14700--15600 levels.

Now on downside it has made a good support around 14700 and above this level doors are open for 16000-16200 level. There is no weakness in trend.

Note : Union Budget 2014 is believed to be the next big trigger for Indian indices, which have been rallying for quite sometime now, is just around the corner. Market participants, locally and globally are closely watching team Modi’s maiden Budget scheduled on July 10. 

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