Santosh Meena, Head of Research, Swastika Investmart
While the upcoming Budget sparks excitement, I advise investors and traders to exercise caution on the actual day. Many stocks react in advance to expectations, often reversing or experiencing high volatility when the details are unveiled. Therefore, it's prudent to focus on a stock's long-term outlook rather than short-term budget buzz. The market is plummeting ahead of the budget, fueled by profit booking from foreign investors. The 21,000-20,800 zone is a crucial support level, while Nifty needs to break through the 21,800-21,850 resistance to regain its momentum.
The upcoming Budget is poised to spotlight capital goods and infrastructure, reflecting the government's commitment to robust spending in these areas. Green energy stocks are in focus due to the government's emphasis on renewable energy, while the promotion of domestic tourism makes related themes attractive. Investors are likely to keep a close eye on these sectors as key beneficiaries of the budgetary priorities. Read More:
