Budget Day Market Outlook 1 Feb 2026 | Nifty, Bank Nifty, Gold & Silver Analysis
Budget Day Market Outlook: Nifty, Bank Nifty, Gold & Silver – 01 February 2026
This blog presents an educational market outlook for Sunday, 01 February 2026, coinciding with the Union Budget 2026. The analysis covers Nifty 50, Bank Nifty, Gold, and Silver, incorporating recent market behaviour, key technical zones, and expected budget-related market sensitivity. This content is for informational purposes only and does not constitute any buy, sell, or investment recommendation.
Daily Outlook • Levels • Educational Research
📌 Table of Contents
➜ Budget Day Market Context
Union Budget days historically witness heightened volatility, as markets react to fiscal policy direction, taxation changes, capital expenditure announcements, and sector-specific incentives. Price movement on budget day is often event-driven, with sharp intraday swings followed by post-event consolidation.
Key focus areas typically include:
- Fiscal deficit targets and borrowing outlook
- Capital expenditure allocation
- Banking & financial sector reforms
- Taxation clarity and consumption incentives
- Impact on currency and inflation expectations
➜ Overall Market Sentiment
- Equity Sentiment: Cautious with event-driven volatility
- Volatility: High (Budget Day effect)
- Market Phase: Range-bound with sharp intraday moves
- Metal Sentiment: Defensive interest remains intact
Ahead of the Union Budget, markets usually avoid aggressive positioning. Participants often wait for policy clarity before committing to directional views.
➜ Nifty 50 Outlook & Key Levels
Nifty is expected to remain sensitive to budget announcements, with price action likely to stay volatile around key technical zones.
| Level Type | Zone | Interpretation |
|---|---|---|
| Major Support | 25,000 – 25,100 | Structural base |
| Immediate Support | 25,200 – 25,300 | Short-term stability |
| Neutral Zone | 25,300 – 25,600 | Volatile consolidation |
| Immediate Resistance | 25,700 – 25,900 | Supply area |
| Strong Resistance | 26,100+ | Upper budget reaction zone |
Outlook: Nifty may witness sharp swings on budget announcements, followed by consolidation once clarity emerges.
➜ Bank Nifty Outlook & Key Levels
Bank Nifty generally reacts strongly to fiscal, credit, and banking-sector announcements in the Union Budget.
| Level Type | Zone | Interpretation |
|---|---|---|
| Major Support | 58,000 – 58,300 | Key banking base |
| Immediate Support | 58,600 – 58,800 | Short-term cushion |
| Neutral Zone | 58,800 – 59,400 | Event-driven range |
| Immediate Resistance | 59,700 – 60,000 | Supply zone |
| Strong Resistance | 60,300+ | Post-budget expansion zone |
Outlook: Bank Nifty may show high volatility as markets assess banking and credit-related announcements.
➜ Gold Outlook & Key Levels
Gold often acts as a hedge during budget-day uncertainty, especially if currency or inflation expectations shift.
| Level Type | Price Zone (₹ / 10g) | Interpretation |
|---|---|---|
| Major Support | 1,45,000 – 1,47,000 | Defensive base |
| Immediate Support | 1,48,000 – 1,49,500 | Short-term cushion |
| Neutral Zone | 1,50,000 – 1,52,000 | Budget reaction range |
| Immediate Resistance | 1,53,000 – 1,55,000 | Supply area |
| Strong Resistance | 1,58,000+ | Upper hedge zone |
➜ Silver Outlook & Key Levels
Silver may show higher volatility than gold due to its dual role as an industrial and precious metal.
| Level Type | Price Zone (₹ / kg) | Interpretation |
|---|---|---|
| Major Support | 3,10,000 – 3,15,000 | Structural support |
| Immediate Support | 3,18,000 – 3,22,000 | Short-term base |
| Neutral Zone | 3,25,000 – 3,30,000 | Volatile band |
| Immediate Resistance | 3,35,000 – 3,40,000 | Supply zone |
| Strong Resistance | 3,50,000+ | Upper resistance |
➜ Budget Day Risk Factors
- Unexpected tax or fiscal policy changes
- Sharp intraday volatility post announcements
- Currency movement impacting metals
- Sector-specific reactions
➜ Final Market View
On 01 February 2026, markets are expected to remain highly volatile due to Union Budget announcements. Equities may react sharply intraday, while gold and silver could reflect defensive positioning. A clearer directional bias often emerges only after post-budget digestion.
➜ Disclosure & Disclaimer
This article is published strictly for educational and informational purposes only and does not constitute investment advice or recommendations.
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