Indian equities are likely to swing wildly as the much awaited budget is presented by the Finance Minister at around 11 AM today. Middle eastern crisis continued to weigh global asset classes as UN imposed sanctions on Libya.
We wish the budget might spring in a surprise in otherwise a market hurt by weak sentiment and global jitters. We expect 2-4 pct move in Nifty today with extreme volatility.
Infra, Banking and Realty stocks might take off on the slightest positive news. We do believe trying to be bullish at times when global markets are nervous and macro economic situation is fragile might not be the best of the things but there is something called "baked in" or "discounted" by the market. While higher crude oil is still a worry, the macro economic situation is discounted.