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