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Analysing the Budget !! (24th July 2024)



1. U.S Markets closed lower Yesterday. 
2. All the indices closed lower.
3. Right now U.S Futures are mixed.
4. Asian Markets are mostly lower.
5. Gift Nifty is down 50 Points.
6. We may open close to 24400 today.
7. Yesterday's Budget was a very much unexpected Budget.
8. Reason is that it had come with many many changes.
9. Nobody had expected so many changes in the Union Budget so soon
10. There was a pic getting viral on the Internet that SEBI Chief had met FM and expressed concern over rising F&O Volumes.
11. Our FM knows just one thing , where ever there is a problem just increase the tax it would go away.
12. The logic would have said to terminate weekly and everyday expiries.
13. Have only weekly expiry on Nifty / Bank Nifty and have monthly expiry in others.
14. But the FM isn't acting like a Finance Minister she is acting like a Revenue Minister and wherever there are issues tax is being increased.
15. This isn't the way problems shouldn't be addressed IMHO.
16. This Budget won't impact middle class earning income upto 15LPA much.
17. People who are at the higher pyramid will be effected.
18. All in all it's a growth Budget which will drive the economy forward.
19. Taxes point of view it was a bad move.
20. I see the bigger range of Nifty between 24k to 25k.
21.Today will be very important as it would show true reaction on the Budget.
22. Nifty might trade between 24300 to 24600 today.


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