Budget week: Volatility to rise; Sensex may swing in this 4,000-pt range

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Budget week: Volatility to rise; Sensex may swing in this 4,000-pt range - Business Standard

Quick Summary:

The Sensex needs to sustain above 77,000-mark for igniting a pre-Budget rally; Nifty daily chart shows that bearish momentum was showing some signs of tapering-off.

India VIX likely to rise this week.

The long-term chart shows that the Nifty seems to be on course to test its 20-MMA (Monthly Moving Average) at 22,250; below which a major support stands at 21,500 levels.