It might appear odd to some but the fact is that if one looks at the last few years' budget, it has been more a statement of what kind of policy changes will happen over the next twelve months or even longer period. So, a budget which defines policy direction rather than specific. Will the budget be different because it is coming with a backdrop of a stronger fiscal situation. Whatever the cases might be, one cannot rule out correction if there is any sort of disappointment for the street, probability of which looks a bit less. But because valuations are high one should be cautious and stay with large caps as a tactical trade. They might bear the brunt of trade initially but over a period of time in any corrective phase they tend to do well.
