Budget 2021: The stock market has seen strength before the budget.
Union Budget 2021 Stock Market News: Finance Minister Nirmala Sitharaman is presenting the general budget. The market has seen a boom before the general budget.
- Last Updated:February 2, 2021, 1:11 AM IS
If we talk about last week, on January 29 (Friday), the Sensex was down 588 points, or 1.26 per cent, to close at the level of 46,285.77. At the same time, the Nifty closed down at the level of 13634.60, down by 1.32 percent. The Nifty has seen a decline of more than 5 percent in the last week. Experts of the market believe that the general budget can play an important role in determining the direction of the market.
Nirmala Sitharaman Speech Live: Nirmala Sitharaman said – Budget prepared in difficult circumstances Experts believe that on the day of the budget, those investing in the market should listen carefully to the announcements of the Finance Minister first. This time, it is believed that big steps will be announced in the infrastructure and health sectors. In such a situation, ordinary people can invest in companies in these areas. Apart from this, you can invest your money in sectorwise announcements.
On the other hand today i.e. on February 1, 37 companies will announce their quarterly results. This includes big companies like Castrol India, Fortis Hospitals, Reliance Capital, Reliance Infrastructure. Their shares can also be monitored.
Nagraj Shetty of HDFC Securities said that after a gap of 4 months, a long negative candle has been seen on the weekly chart. The candle has also broken the 10-Week EMA’s Immediate Weekly Support at 13720 level. This moving average was an important support level for the Nifty for some time. Therefore, according to the time frame chart, it may be a confirmation of the market action top reversal pattern. He further said that the short term trend of Nifty remains weak. Further weakness can be seen in the Nifty.
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