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Union Budget-2023 Expectations, Stocks and Market Levels
January 31, 2023
Union Budget-2023 Expectations, Stocks and Market Levels
The Union Budget for financial year 2023-2024 is set to be presented in the Parliament by Finance Minister Nirmala Sitharaman on February 1.
We are expecting a moderate Budget, some of the key expectations are:
a. May see a small change in basic exemption limit
b. The slab rate may be revised as well
c. Any hike in STCG, LTCG or STT may hit traders and we may see the market sliding down.
Nifty levels to watch:
Nifty
CMP spot : 17662
Support : 17500 - 17550
Resistance : 17750 - 17800
Banknifty
CMP spot : 40655
Support : 40150 - 40300
Resistance : 41000 - 41200
Coming to sectors, which Sector and Stocks can be beneficiary
1. If 80c limit is being hiked which has good chances as last hiked in 2014 from 1.5 to 1.75-2 lakhs
Stocks to focus - HDFCAMC, NIPPON
2. Insurance companies: If insurances rates are hiked Stocks to focus - HDFCLIFE, SBILIFE, ICICIPRULI, LICI,ICICI LOMBARD
3. FMCG sector: if exemption limits are being raised Stocks to focus - BRITANNIA, DABUR, MARICO, HUL, ITC, JUBLIFOOD, COLPAL
4. Realty and housing finance: If house demands are created and some affordable housing demands projects are lined up Stocks to focus - DLF, OBEROIRLTY, MACROTECH, HEMISPHERE, INDIABULLS REAL EST, SOBHA
5. Defense Sector - Defense budget have been increasing
Stocks to focus - HAL, BDL, MAZAGON DOCK, BEL, BDL, BEML, SOLARIND
6. Reducing GST/excise duty on petroleum products Stocks to focus - BPCL, HINDPETRO, IGL, MGL, ONGC, CHENNPETRO,
Disclaimer : Investments in securities are subject to market risk.Our content is intended to be used and must be used for informational purposes only. It is very important to take financial advice from professionals. Past performance is not a guarantee of the future return, nor is it necessarily indicative of future performance.
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Recent Best Trades
| Symbol | ROI | Gains |
|---|---|---|
| NDL | +7.87 % | +1932.00 |
| VEDL 24APR FUT | +0.77 % | +6900.00 |
| TPLPLASTEH | +4.76 % | +1176.00 |
| BAJAJFINSV 24APR FUT | +0.62 % | +5050.00 |
| NIFTY 24APR FUT | +0.31 % | +28000.00 |
