It’s time for Union Budget 2025, and this time everyone is eyeing the government’s capital expenditure (capex). Finance Minister Nirmala Sitharaman will present the budget on 1 February. In July, he had announced a capex of Rs 11.11 lakh crore for 2024-25. The increase in capex not only means development of infrastructure but also opportunities for new jobs, improvement in rural economy and increase in demand across sectors. Infrastructure sectors like roads, railways and electricity can especially benefit from this.
Now the question is, which are the stocks which can benefit from this? Let us know through technical charts about those 5 stocks which can gain momentum due to increase in capex.
1. Larsen & Toubro (L&T)
Current Price: ₹3,418
Support: ₹3,380; ₹3,300
Resistance: ₹3,600; ₹3,670
L&T stock is currently taking support at its 50-monthly moving average (MMA). If the level of ₹ 3,300 is not broken, then the stock can go up to ₹ 3,850. But keep in mind, there may be some resistance at ₹3,600 and ₹3,670.
2.Siemens
Current Price: ₹5,792
Support: ₹5,410; ₹4,700
Resistance: ₹6,170; ₹6,400
Siemens shares have recently given a negative breakout. If it slips below ₹5,410, it may fall to ₹4,700. But if it goes above ₹6,170, then it can prepare for a big jump.
3. NTPC
Current Price: ₹322
Support: ₹325; ₹305
Resistance: ₹344; ₹370
NTPC shares have given a good breakout recently. If support of ₹325 holds, it can go up to ₹385. If the power sector gets a boost in the budget, this stock may go up even higher.
4. Power Grid Corporation
Current Price: ₹286
Support: ₹275; ₹263
Resistance: ₹301; ₹311
Power Grid shares are heading towards a negative breakout below ₹294. If the support level is broken, it may fall to ₹253. However, if there is a pullback, there will be resistance at ₹301 and ₹311 levels.
5. Jain Irrigation
Current Price: ₹70.30
Support: ₹67.70; ₹62.70
Resistance: ₹73.70; ₹83.50
Jain Irrigation stock has not been able to overcome the resistance of ₹73.70 for the last 7 months. If this level is crossed, it can reach ₹110. But if it goes below ₹67.70, it may fall to ₹50 also.