The correction that we are witnessing is infact very healthy for the markets. It shows that people have certain expectations from the budget and they are booking profits to reduce their positions before the big event. Chances of a disappointment is low if we correct before budget than afterwards.
The Government surely won`t be able to to deliver on all the expectations. Also, they will not fail on all the expectations. It just remains to be seen that which sectors receive the most and which receive less. For example, expect more money in the pockets of the common man which can lift sectors like consumer goods, automobiles etc.
Given that we do not have a pre budget rally and stay below 4450 on budget day, we can really make a dash upwards if there are positive surprises. If there are not, well, don`t expect lower circuits anyways.
Hence, a healthy correction
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