See no meaningful mkt recovery unless Budget delivers: Experts

If there are no positive announcements from the Finance Minister in the Union Budget then one should brace for more pain in the market, is the word coming in from Gaurang Shah, VP, Geojit BNP Paribas Financial Services.Moreover, on a backdrop where there is continued selling from the foreign institutional investors (FIIs), it is unlikely to see a meaningful recovery. So far whenever the markets have recovered, they have been followed by a selloff, and Nifty has not been able to cross the 7200 mark.Therefore, unless there is buying from the domestic funds, distress will be visible in the market, says Shah.However, he does not recommend staying on the sidelines.Talking on the list of willful defaulters announced by Punjab Nation Bank, he says the moot point is what plans do the bank have to recover this money.The PSU management had already hinted earlier that things could look bad going forward in terms of NPAs.With regards to NTPC OFS, he says it is a good long-term bet from two-three year perspective.His other long-term bets are NBBC, LIC Housing and Coal India.From the Budget per se, he says there is expectations on reform front, infra and rural spending, no new taxes, clarity on GAAR which could be a positive. According to technical expert, Vishal Malkan Nifty is in a range of 7050-7250 and is currently trading at a lower end of that range. So he recommends buying Apollo Tyres and India Cements.Among the PSU banks, he likes Bank of Baroda with a stop loss at Rs 127 for a target of Rs 151.