Tech View on Nifty | Rahul Sharma Head Technical and Derivatives Research, JM Financial Services

As expected, VIX has cooled off after the budget event which primarily has been a non-event for most of the market except PSU Banks and Auto stocks which have seen most of the buying action. Nifty still trades near to its resistance area of 21,750 - 21,800 along with dominant shorts in index futures from FII’s. Bulls have to clear this area for any further action on the upside. Supports placed at 21,450 and 21,200.