Union Budget 2026: BEL, L&T, Ircon among Sharekhan's to picks to ride market volatility

Finance Minister Nirmala Sitharaman is set to table the Union Budget for financial year 2026-27 today, which will trigger tides of volatility in the stock markets. Muthuselvaraj, Technical Research Analyst at Mirae Asset ShareKhan believes that  the budget is expected to significantly benefit sectors like defence, capital goods, and infrastructure.
 

Increased government spending will boost defence manufacturing and modernization. New industrial projects will drive demand in capital goods, while a strong focus on infrastructure development, including roads and railways, will stimulate growth and investment, he added, suggesting four stocks to trade to play the budget theme. Check out his top picks for the budget:
 

Larsen & Toubro | Buy | Target Price: 4,100 | Stop Loss: Rs 3,800

After a breakout from a broad range, Larsen & Toubro Ltd is retesting the upper band of that range and forming support above its short-term averages (20 & 40 WEMA). It is also forming a higher top and higher bottom formation. On the daily chart, the stock is showing support from its 200 DEMA, which is at Rs 3,774. Momentum indicators are positive, indicating strength. Key resistance is identified at Rs 4,100, with support at Rs 3,800.
 

Ircon International | Buy | Target Price: 180 | Stop Loss: Rs 150

Ircon International Ltd is showing support from its 200-week exponential moving average (EMA) and has given a falling wedge breakout, trading above its short-term averages (20 & 40 DEMA). Momentum indicators are positive, indicating strength. Key resistance is identified at Rs 180, with support at Rs 150
 

Bharat Electronics | Buy | Target Price: 490 | Stop Loss: Rs 410

Bharat Electronics Ltd is showing a triangle pattern breakout on the weekly timeframe and has closed above its previous crucial swing high. The stock is forming a higher top and higher bottom formation, trading above the 20 and 40-day exponential moving averages (DEMA). Momentum indicators are positive, indicating strength. Key resistance is identified at Rs 490, with support at Rs 415.
 

NPTC | Buy | Target Price: 390 | Stop Loss: Rs 340

NTPC Ltd has given a consolidation breakout on the daily chart. The price is currently trading above its 20 and 40-exponential moving averages (EMAs), which are at Rs 342 and Rs 337 respectively. The momentum indicator shows a positive crossover, signaling buying interest. The upside resistance is at Rs 390, with immediate support at Rs 340.