Indian stock markets are set for a rare and historic Sunday trading session today, coinciding with the live presentation of the Union Budget 2026 by Finance Minister Nirmala Sitharaman at 11 AM. Markets are likely to remain highly volatile, with sharp moves possible in either direction depending on key announcements around fiscal policy, capex push, sector-specific incentives, and the fiscal deficit target (expected around 4.3–4.4% of GDP for FY27). Pre-Budget caution continues amid persistent FII outflows, a weak rupee hovering near 92/USD, and mixed global cues. However, steady DII buying and the market’s ability to hold key support levels are offering some downside cushion. A favourable Budget reaction could trigger an upside breakout, while any disappointment or profit-booking may pull indices back towards lower support zones. Until there is clarity from the Budget, the overall bias remains cautious to neutral.
Nifty 50
Nifty 50 is showing signs of stabilization near its 200-day EMA around the 25,150–25,200 zone, with RSI staying neutral, basically hinting at a sideways market for now. The 25,100 zone is the key cushion; a slip below this could lead to a dip towards 25,000–24,900. On the upside, 25,450–25,500 is the immediate hurdle, and a clean breakout above this zone can open up room for 25,700–26,000 in the short term. Options data shows higher volatility with range-bound undertone.
Bank Nifty
Bank Nifty faces stiff resistance near 59,900–60,000 but is finding support on dips around 59,500. It remains above key EMAs with RSI near 52, indicating healthy momentum. Support at 59,500–59,400 (20-DMA); break may drag it to 59,000–58,500. On the upside, 60,000 remains a key psychological and supply zone; a sustained breakout above this level may open the path towards 60,300–60,500. For today, sentiment in banking remains mixed ahead of the Budget. Expect a cautious, range-bound start, selling on rallies near resistance and buying dips near support could work unless there’s a strong trigger. A convincing close above 60,000 would tilt the bias firmly bullish.