The FY26 budget is expected to be even tighter, with a lower fiscal deficit target. The government surprised everyone by not announcing any new social schemes or expanding existing ones. Allocation for popular social schemes like MNREGA and Jal Jeevan Mission remains unchanged. The budget focuses on boosting the investment cycle, with a significant increase in government capex, particularly on infrastructure projects. The tight fiscal situation may lead to lower interest rates and the possibility of policy rate cuts.
Tech View: Minor pullback rally likely in Nifty, crucial resistance at 24,750. How to trade on Monday
Tejas Shah, Technical Research Analyst at JM Financial & BlinkX, noted that Nifty has support at 24,100 and 24,000, with immediate resistance at 24,450-500 and
October 25, 2024