Budget 2024 Impact on the Market on Tuesday

Описание: Nifty 50: Support Holds
The Nifty 50 bounced significantly from a low of 24,074.20, indicating strong support between 24,100 and 24,000. A rise above 24,650 could be bullish, potentially pushing the index to 24,850 or higher. However, a break below 24,000 may lead to a sharp correction towards 23,500.

Nifty Bank: Room to Fall
The short-term outlook for the Nifty Bank index (51,778) is weaker. Struggling with resistance at 52,800-53,000 and a recent fall below 52,000, the index may drop to the next support at 50,500. To turn bullish, it must surpass 53,000, potentially rallying to 54,000-54,500.

Realty Stocks to Watch
Realty stocks fell after indexation removal in long-term capital gains tax calculations, now at crucial levels:

Sobha (₹1,774): Needs to hold above ₹1,700 to avoid a drop to ₹1,500 and potentially rise above ₹2,000.
Prestige Estate Projects (₹1,762): Must sustain above ₹1,650 to potentially reach ₹2,200.
DLF (₹809): Needs to stay above ₹760 to aim for ₹1,000; a fall below ₹760 could lead to ₹600.
Brigade Enterprises (₹1,204): May fall to ₹1,100.
Macrotech Developers (₹1,370): May decline to ₹1,300-1,250.

Budget impact
Sensex
LTCG tax
short term capital gain tax
long term capital gain tax
Indexation benefit
STCG
LTCG tax rate
stock market today
Nifty 50
Nifty Bank index
BSE Realty index
Capital gains tax
Security Transaction Tax (STT)
Intraday fall
Support levels
Resistance levels
Real estate stocks
Sobha
Prestige Estate Projects
DLF
Brigade Enterprises
Macrotech Developers

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