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Analysts expect volatility to remain high through the week in the backdrop of major events like the Interim Budget and the US Federal Reserve's monetary policy meeting.
Indian headline indices opened in the green on gains in bank stocks and tracking positive cues from global markets. The top gainers were ONGC, Adani Enterprises, SBI Life, HDFC Bank, and Sun Pharmaceuticals. The top losers were Cipla, Dr Reddy's Laboratories, Bajaj Auto, ITC, and Divi's Laboratories. HDFC Bank stock rose nearly 2% after the banking regulator allowed LIC to up its ownership. Most major Asian indices were trading positive after the China regulators took new steps to support the market.
Market experts suggested investors to monitor Nifty around the psychological mark of 21,000
Bear put spreads, calendar spreads and iron butterflies are some of the strategies recommended by analysts. One analyst advises traders to enter into trade during the last hour of the market during budget day
Budget 2024 Expectations Live: The power sector received a significant financial boost in the FY24 budget, with a 58% increase in allocation to Rs 20,671 crore. Analysts predict that the power sector will continue to be a focus in the upcoming FY25 budget.