Budget 2025 | Pre-market action: Here's the trade setup for today's session
markets rallied for four days in the lead up to the Budget in anticipation of a pro-growth and fiscally prudent policy announcements. Now, all the focus will turn to Nirmala Sitharaman, where the finance minister will present a record eighth Budget.
«Market expects reductions in individual tax and job generation to boost consumption. By cutting the fiscal deficit but continuing to boost infrastructure spending, the government may set the tone for a potential recovery in the consolidating market,» said Vinod Nair, Head of Research, Geojit Financial Services.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The underlying trend of Nifty remains strong. Having surpassed the hurdle of 23,500 levels, bulls could advance towards another resistance of 23,800 levels in a short period of time. Immediate support is at 23,400 levels, said Nagaraj Shetti.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 6.6% to settle at 16.25 levels.
US stocks down
U.S. stocks ended lower on Friday, with indexes losing ground after the White House said U.S. President Donald Trump will implement on Saturday tariffs of 25% on Canadian and Mexican imports and 10% on Chinese goods.
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