Nifty in ranged today levels sms to all clients
Expect the unexpected,as the markets have discounted an uneventful budget. We see some big gains in select stocks, as there has been relatively, less or no movement in the stocks leading to the budget week.
It is strange that the market has not seen any action in the last two weeks prior to the budget. The Sensex has gained more than 6 percent last year in the 2 week period prior to the budget. We have seen a 1 percent move this year. The volume in the exchanges has gone down by nearly 50 percent, reflecting the disinterest in the market. It is safe to say that the effect of speculators will be less during this session and hence less volatility.
We are not sure about the budget sops, but one thing is for sure, Solar and Renewable Energy is likely to get a big boost in the form of tax sops and MoserBaer might be a great bet in today's market. The stock presents as a good trading opportunity at Rs 73 level.Hotel, Textile and Education sectors might get be other sectors that might get some sops in the budget.