Intraday trading breakthrough revealed in Budget 2024

Before the Budget 2024 deadline, stock market gurus have recommended a stock-specific intraday trading approach.

Budget 2024: July 23, 2024, has been set aside as the day for the presentation of the Union Budget 2024. This indicates that the budget presentation is only six sessions away, therefore intraday traders should use additional caution in the upcoming week.

Stock market analysts predict that Union Finance Minister Nirmala Sitharaman would deliver a growth-oriented budget, with a particular emphasis on the banking, consumer durables, infrastructure, and auto sectors. Given that the company’s Q1FY25 results are now being announced, they recommended intraday traders to stick to a stock-specific strategy that places special attention on the aforementioned segments.

Stock market tips before Budget 2024 date

Before Budget 2024, Amit Goel, Co-Founder, & Chief Global Strategist at Pace 360 said there should be no investment before Budget 2024 because of volatilities. Thus, while using averages might show a slight decline before the budget, significant volatility could help create prospects with escalating risks. Better stocks should be bought in industries that may benefit from the budget at this stage before the actual budget effect takes place. Intermittent options traders may seek opportunities in terms of higher volatility; they are advised to use the straddle and strangulation strategies to make profits in any direction.

Expert’s Opinion

Avimash Gorakshkar, Head of Research at Profitmart Securities, commented on areas where a stock-specific strategy might produce higher returns: “FM Sitharaman is expected to remain focused on keeping the fiscal deficit under control as the Indian economy has delivered stellar performance in FY24 and the Modi 3.0 Government is committed to achieving $10 trillion target by the end of next five years.” In that scenario, it is anticipated that government earnings will soar, making equities in the banking and auto sectors more appealing. One’s spending is anticipated to soar in the wake of increased income, which should help consumer durable firms.

Based on the information given by Gorakshkar, FM Sitharamn is also expected to address the issue of employment generation. If so, the infrastructure section would continue focusing on the NDA government in New Delhi, headed by the BJP. Hence, before the Union Health Minister and Chemicals & Fertilizer Minister pre-budget speeches and the Union Budget 2024 date, which is July 23, 2024, one must look at the quality of stocks in the above-said segments.

Notice: This analysis does not represent the opinions or suggestions of NiftyTrader; rather, it represents the opinions of certain analysts or brokerage firms. Before making any investment decisions, we highly urge investors to speak with qualified specialists because individual circumstances and market conditions can change quickly.