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Stocks for intraday trade for General Budget 2016 – 17

By Bhaveek Patel 8 Comments

Today at 11am, Finance minister Arun jaitley will be announcing general budget for 2016 -2017 in parliament. We are expecting huge volatility in markets during his speech. Stocks and sectors that will have biggest impact will be: Agriculture, Banking, Infrastructure, Metals, Financials and Defence.

From agriculture sector we see, Jain Irrigation system (JISLJALEQS) as foremost pick. We are expecting stock to move higher with high volumes. Buy JISLJALEQS above 56, with target as 60, With strict stoploss at 54.25.

From Banking sector, BANKBARODA, SBIN, PNB looks best as they have already been beaten up after Q3 results. For intraday trade one can buy on every declines.

Infrastructure sector, We find LT and BEML the best picks. These are good for intraday as well as for the medium term. These stocks have been trading around support level and we expect them to outperform stocks in this sector. Our recommendation, buy LT above 1110 and buy BEML above 965 with targets as 1125 and 974 and stop loss at 1102 and 960 respectively.

Metal sector, TATASTEEL and HINDALCO are looking good as infrastructure spending will be boosting the margins and expansions for these giants.  We suggests buying into these stocks for intraday trading.

Financial sector, we are expecting biggest boost and most watched sector will be financial sector in this budget. As affordable housing and house for all by 2022, will help this sector to utilize its full potential. Stocks from this sector will be: LICHSGFIN, DHFL and HDFC.

Defence sector, a sector which was recently opened for the FDI, will be another center of focus in budget today. We are expecting stocks like: PIPAVAVDOC and BEML to be biggest gainers today. Buy these stock on every declines today.

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Category: NEWS Tags: Banking Sector/ Budget Session/ Infrastructure Sector/ Interim Budget

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

Comments

  1. Atul says

    People have expected some good declaration, but this budget has nothing important for middle-class employees. Really, disappointing.

    Reply
  2. pulkit says

    I need multi bagger stocks for big gains.

    Reply
  3. Giri says

    nifty options trading excel sheet share please.

    Reply
  4. jitendra says

    sir, how can i buy amibroker live data from you. i need ieod amibroker database for mcx and f&o.

    Reply
  5. divyashree says

    What are good stocks to buy for budget. Also can you tell which stocks will benefit from GST law? I need midcap stocks with target and stoploss.

    Reply
  6. Tiger says

    I have 100 shares of VEDL at 230. Should I sell or hold this stock? its already going higher and making fresh 52 week high.

    Reply
  7. snehal more says

    How can i save tax from investing in mutual funds? tell me mutual funds to invest.

    Reply
  8. romit gavvala says

    Hi sir, are you a trader. i want to learn technical analysis for nifty options and nifty future. kindly contact me on my email.

    Reply

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