Expert tips: How to trade on Union Budget day?

Finance Minister Pranab Mukherjee will present challenging Union Budget 2011-2012 today. The markets opened 100-points up on expectations of much-needed reform announcements coming through in the budget. Moneycontrol.com gets top expert recommendations on best ways to trade and make profit.

Deven Choksey: Budget will be favorable event for markets. Markets to move up. Budget is likely to touch upon funding of infrastructure, banking, and non-banking FDI functions. Bullish on Insurance, retail, infra, NBFC banking. Top picks for the day- Bajaj Finserv, Mundra Port,Tata Motors, SBI, L&T.

SP Tulsian: Fiscal deficit below 5% with the help of improved recurring income. Focus on agriculture, infra and banking. Bullish on Jain Irrigation, IDFC, Pantaloon Retail.

Angel Broking: Positive towards budget. Markets will rally. Bullish on IDFC, ICICI Bank. Banking sector may see upside.

Hem Securities: Positive on markets. Budget to be non-event for markets. Nifty Future support seen at 5305, 5245 and resistance seen at 5420, 5465. Buy Aban Offshore Future, target Rs 585.

Sushil Finance: Markets are volatile. If Nifty crosses 5392 then levels of 5448 to be seen and if it goes below 5234 then levels of 5140 to be seen.

Hitendra Vasudeo: Nifty has key support around 5177. Volatility band 5242-5432. Bullish on software sector. Nifty support seen at 5300. Positive move seen in Reliance Industries and IDFC.