While the budget itself contained minimal surprises, it reflected the government's commitment to fiscal prudence and tempered expectations. Unsurprisingly, the market showed muted reaction, choosing to prioritize upcoming earnings reports and global developments as drivers of stock- and sector-specific outperformance. For Nifty, the key resistance zone lies at 21800-21850; a break above this level could pave the way for a new all-time high. Conversely, immediate support sits at 21500, with 21200 providing the next safety net.


 

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