Technical

Union Budget 2026 backs textile modernization through various schemes, boosting stocks like Arvind and Raymond. The market shows signs of recovery post-Budget turmoil, with analysts noting resilient stocks amidst volatility and a gradual shift towards growth-oriented sentiment.

Indian equities are expected to open cautiously negative on February 2 due to weak global cues and unfavorable Budget announcements. Key support and resistance levels will guide traders, while the market may remain volatile amid continued FII selling and mixed signals from global markets.

In the lead-up to the Union Budget, Indian equity markets are experiencing caution and volatility. Analysts highlight the significance of key support and resistance levels for Nifty, urging investors to adopt a selective approach amid uncertain market conditions.

Ventura Securities identifies Ujjivan Small Finance Bank and APL Apollo Tubes as strong short-term stock picks in 2026, supported by bullish trends and positive momentum indicators, recommending targets of ₹82 and ₹2,300, alongside strict stop losses.

Nifty has drifted below the 200-DMA near 25,150, which Santosh Meena of Swastika said is widely regarded as the dividing line between a long-term bull and bear market. He warned that a decisive close below this level would be technically catastrophic.

The bullish chart pattern with higher tops and bottoms is intact on the daily chart, and the present weakness could be in line with the new higher bottom formation only after the confirmation, Nagaraj Shetti of HDFC Securities said.

Indian equity markets declined on Monday due to global concerns over growth and geopolitical tensions. The BSE Sensex and Nifty50 fell, reflecting risk aversion. Analysts expect a range-bound market this week, influenced by currency movements and trade agreements.

On December 12, India's stock market extended gains, buoyed by global sentiment after a US rate cut. Analysts forecast steady trading for Sensex and Nifty, emphasizing key support levels.

Indian stock market: Sumeet Bagadia of Choice Broking predicts the Nifty 50 and Sensex targets are set at 27,000 and 88,000-90,000, respectively, by March 2026

The Nifty 50 index reached a record high of 26,310 after 14 months, signaling renewed investor confidence. Despite concerns over US tariffs, government measures and expected earnings recovery have led to positive market outlooks, with brokerages raising their targets for the index by 2026.