Sushil Kedia: "Worst May Be Behind" for Markets After "Great Budget"

• Market veteran Sushil Kedia called the Union Budget a "great budget for the country," despite initial market volatility.
• He attributed the initial sell-off to technical breakdowns and lack of market-soothing announcements, not policy disappointment.
• Kedia highlighted fiscal deficit reduction, increased defence and railway spending as signs of a mature macroeconomic approach.
• He advises against aggressive short positions, believing the worst for markets may be over, with confirmation expected soon.
• Kedia is bullish on railways and defence due to higher allocations, sees opportunities in textiles, but is cautious on metals and PSU banks.

Why It Matters: Sushil Kedia believes the Union Budget is positive, suggesting market lows are past, with opportunities in specific sectors.