Market Braces for Budget Reaction: STT Hike Impact, Nifty's Critical Levels

Business
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Moneycontrol•02-02-2026, 08:50
Market Braces for Budget Reaction: STT Hike Impact, Nifty's Critical Levels
- •Today is crucial for market reactions to the budget, especially with FIIs' delayed response.
- •Nifty's critical level is 24571; breaching it risks a fall to 24,000. Confidence requires closing above 25,450.
- •The budget's STT increase has shaken market confidence, overshadowing positives like data center and AI promotion.
- •Market is bearish; focus on relative strength. Auto sector and data center-related shares show potential.
- •Gold and silver are volatile; consider re-entering in tranches on dips over the next 1-2 months.
Why It Matters: Market faces a critical day post-budget, with STT hike impacting sentiment and Nifty at key support levels.
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