Big buying seen in Nifty futures. These are from strong guys. They don't buy for 100-200 pt move but for atleast 1000 or more
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flat day... first hour loss booked in short positions , second half we covered loss by going defensive long.
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Some wishlist from this budget
1. Reduction in Income Tax rates for the benefit of middle class.
2. Disinvestment of PSU banks. Allowing FII to buy stake in PSU banks.
3. Reduction in STT and capital gains tax. This will be huge positive for the markets.
4. Reduction in excise on petrol and diesel.
All above announcement will be highly.positive.
However if there is any announcement related to increase in any kind of taxes that may spook the markets temporarily for today. So hear out the Direct Tax part of the speech very very carefully.
As per my view, Fed meeting outcome on expected lines. No any negative announcement.
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