Budget Expectations: IIFL expects Nifty to pick momentum only post Budget

Anu Jain, senior vice president of IIFL Private Wealth Management sees Nifty currently trading in the smaller band of 5,150-5,400. She expects Nifty to pick up momentum only post Budget.

Infrastructure and banking stocks are giving boost to the market, so she sees Nifty sustaining 5,400 levels as of now. "Sustaining 5,400 is now looking slightly more possible because of the base of the stocks like Kotak, YES, for that matter even Larsen, BHEL is now getting stronger," she added. Meanwhile, she suggests investors to take only 30-40% positions before the Budget. "If there is amount that I play regularly, I would probably bet a 30-40% for sure because the index and constituents are showing strength. But all out position when you know impact could be on a stock very sharp would be a little bit unwise," she said. Below is the edited transcript of the interview. Also watch the accompanying video. Q: What kind of targets are you trading the Nifty with today? A: The way Nifty opened and it is showing that around 5,400 levels there is resistance. It is moving in that smaller band of 5,150-5,400. It is going to pick up momentum only post Budget. So, you are going to test those 5,400-5,420 areas for that matter. What gave a positive bias yesterday was the movement in infra stocks. The market hasn