Union Budget 2026 | Stock market today: Key levels for Nifty, Sensex & Nifty Bank
Indian shares are likely to open higher in a special trading session ahead of the federal budget on Sunday as investors look for cues on support for growth.
- Feb 1, 2026,
- Updated Feb 1, 2026 8:54 AM IST
Indian shares are likely to open higher in a special trading session ahead of the Union Budget on Sunday as investors look for cues on support for growth from government capital spending and relief for export-oriented sectors hit by US tariffs. However, Gift Nifty and Asian stocks were shut today.
Wall Street's main indexes closed lower on Friday. The Dow Jones Industrial Average fell 179.09 points, or 0.36 per cent, to 48,892.47, the S&P 500 lost 29.98 points, or 0.43 per cent, to 6,939.03 and the Nasdaq Composite dropped 223.30 points, or 0.94 per cent, to 23,461.82.
Bitcoin, the world's largest cryptocurrency by market value, was down nearly 7 per cent, continuing its slide as the US dollar gained after former Federal Reserve Governor Kevin Warsh was selected as the next Fed chair. Some investors and traders are concerned he might tighten up on cash in the financial system.
With macro fundamentals remaining supportive and policy optimism building ahead of the Union Budget, the medium-term outlook for Indian equities remains constructive, despite elevated near-term volatility. Investors should continue to adopt a buy-on-dips strategy, with an emphasis on quality large-cap stocks and sectors, said Ajit Mishra, SVP of Research at Religare Broking.
Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs 2,251.37 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned sellers of Indian equities to the tune of Rs 601.03 crore on a net-net basis. FPIs sold nearly Rs 38,740 of Indian equities in first month of 2026.
The intensity of selling sharply declined in the last few days of the month. FIIs will be looking for indications from the Budget before deciding on their strategy, going forward, said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments. "If the 2026 Budget turns out to be fiscally prudent and growth-oriented, the market will turn resilient. The sharp correction in gold and silver, if it persists, can draw investors away from precious metals to equity."
Nifty50 & Sensex outlook
As long as the market trades above 25,200/82,000, a positive sentiment is likely to continue. On the higher side, the market could move up to 25,500/82,800. Further upside may also extend, potentially lifting the index up to 25,600-25,675/83,000-83,200, said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
"On the flip side, if the market falls below 25,200/82,000, weakness is likely to increase. In such a case, we could see a quick intraday dip down to 25,000-24,900/81500-81200," it said.
Nifty50 formed a strong bullish candlestick after taking support near the 50-week EMA on the weekly chart, reflecting renewed buying interest at lower levels and reinforcing medium-term trend stability. it closed decisively above the crucial 25,300 support on the daily charts, indicating a breakout from a key resistance zone and an improvement in overall market structure, said Choice Broking.
Immediate resistance is placed at 25,450, followed by 25,600 and 25,700 levels. On the downside, support is seen at 25,200 and 25,000. A breakdown below 24,900 could intensify downside pressure and accelerate corrective moves. Given the prevailing volatility, a cautious approach with strict stop-loss discipline is advised," it said.
Nifty Bank outlook
The immediate resistance is at 60,000–60,100 zone for Bank Nifty, making it a crucial supply area. Any sustained move above this zone could lead to Index continuing its up move on the upside towards 60,400, followed by 60,800 in the near term, said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities. "On the downside, the 20-day EMA zone of 59,400–59,300 zone is likely to act as a strong support."
On the downside, the 59,300–59,250 zone remains a crucial support; a decisive break below this range could drag the Nifty Bank towards 58700, said Ravi Singh, Chief Research Officer at Master Capital Services. "On the upside, 60,000 is a key psychological resistance, with sustained strength above it opening the path toward 60,500. Volatility is expected to remain elevated."
Indian shares are likely to open higher in a special trading session ahead of the Union Budget on Sunday as investors look for cues on support for growth from government capital spending and relief for export-oriented sectors hit by US tariffs. However, Gift Nifty and Asian stocks were shut today.
Wall Street's main indexes closed lower on Friday. The Dow Jones Industrial Average fell 179.09 points, or 0.36 per cent, to 48,892.47, the S&P 500 lost 29.98 points, or 0.43 per cent, to 6,939.03 and the Nasdaq Composite dropped 223.30 points, or 0.94 per cent, to 23,461.82.
Bitcoin, the world's largest cryptocurrency by market value, was down nearly 7 per cent, continuing its slide as the US dollar gained after former Federal Reserve Governor Kevin Warsh was selected as the next Fed chair. Some investors and traders are concerned he might tighten up on cash in the financial system.
With macro fundamentals remaining supportive and policy optimism building ahead of the Union Budget, the medium-term outlook for Indian equities remains constructive, despite elevated near-term volatility. Investors should continue to adopt a buy-on-dips strategy, with an emphasis on quality large-cap stocks and sectors, said Ajit Mishra, SVP of Research at Religare Broking.
Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs 2,251.37 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned sellers of Indian equities to the tune of Rs 601.03 crore on a net-net basis. FPIs sold nearly Rs 38,740 of Indian equities in first month of 2026.
The intensity of selling sharply declined in the last few days of the month. FIIs will be looking for indications from the Budget before deciding on their strategy, going forward, said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments. "If the 2026 Budget turns out to be fiscally prudent and growth-oriented, the market will turn resilient. The sharp correction in gold and silver, if it persists, can draw investors away from precious metals to equity."
Nifty50 & Sensex outlook
As long as the market trades above 25,200/82,000, a positive sentiment is likely to continue. On the higher side, the market could move up to 25,500/82,800. Further upside may also extend, potentially lifting the index up to 25,600-25,675/83,000-83,200, said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
"On the flip side, if the market falls below 25,200/82,000, weakness is likely to increase. In such a case, we could see a quick intraday dip down to 25,000-24,900/81500-81200," it said.
Nifty50 formed a strong bullish candlestick after taking support near the 50-week EMA on the weekly chart, reflecting renewed buying interest at lower levels and reinforcing medium-term trend stability. it closed decisively above the crucial 25,300 support on the daily charts, indicating a breakout from a key resistance zone and an improvement in overall market structure, said Choice Broking.
Immediate resistance is placed at 25,450, followed by 25,600 and 25,700 levels. On the downside, support is seen at 25,200 and 25,000. A breakdown below 24,900 could intensify downside pressure and accelerate corrective moves. Given the prevailing volatility, a cautious approach with strict stop-loss discipline is advised," it said.
Nifty Bank outlook
The immediate resistance is at 60,000–60,100 zone for Bank Nifty, making it a crucial supply area. Any sustained move above this zone could lead to Index continuing its up move on the upside towards 60,400, followed by 60,800 in the near term, said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities. "On the downside, the 20-day EMA zone of 59,400–59,300 zone is likely to act as a strong support."
On the downside, the 59,300–59,250 zone remains a crucial support; a decisive break below this range could drag the Nifty Bank towards 58700, said Ravi Singh, Chief Research Officer at Master Capital Services. "On the upside, 60,000 is a key psychological resistance, with sustained strength above it opening the path toward 60,500. Volatility is expected to remain elevated."