F&O Talk | Market likely to stay rangebound, retest of election lows possible: Rahul Ghose of Hedged.in
Nifty experienced heightened volatility on the day of the Union Budget 2025 presentation during Saturday’s special trading session. Despite opening on a positive note and gaining momentum, market fluctuations intensified after the Finance Minister's speech began. However, a late-session recovery helped Nifty close 26 points lower, off its intraday low.
A small bearish candle with upper and lower shadows formed on the daily chart, signaling a high wave pattern. This technical formation reflects heightened market volatility.
Post the Budget, analyst Rahul Ghose, Founder of Hedged.in interacted with ET Markets regarding the outlook on the markets and shared key levels for Nifty and Bank Nifty. Following are the edited excerpts from his chat:
What is your outlook for the market, now that the big event, i.e., the Budget is done and dusted?
Considering that there are no major negatives, markets will shift focus back on the earnings growth, global cues and the interest rate directions. However, the Income tax relief for salaried individuals is a big relief & is expected to boost consumption. The focus will be back on beaten-down FMCG stocks as well as non -discretionary consumer companies. 2025 will be a stock pickers market. On a broader level markets are likely to remain range-bound.
Which direction do you expect the Budget to drive the Nifty 50?
As mentioned earlier as well, markets are likely to remain broadly range-bound in 2025. The upper end of the range could be around 27,000 to 27,200 and 25,000 in the short
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