India’s benchmark index, Nifty, ended its three-day winning streak on Friday, weighed down by selling in metals, financials, and IT stocks. Market sentiment remained subdued amid ongoing concerns over geopolitical tensions, the upcoming Union Budget 2026 on Sunday, and continued weakness in the Indian rupee.
Technical analyst Ajit Mishra said that sustenance above the 25,350 level could result in a further rebound towards the 25,600 zone, while a decisive break below the long-term moving average, the 200 DEMA around 25,150, may derail the recovery and drag the index towards the 24,750–24,900 zone.
“With all eyes on the Union Budget, we expect heightened volatility during the special trading session on Sunday and suggest preferring a hedged approach,” the Senior Vice President – Research at Religare Broking said.
Stock markets will remain open on Sunday, February 1, ahead of the Union Budget 2026.
2 stock recommendations for February 1:
