Let us look at the pattern formation on the monthly chart of NIFTY. It looks like a Busted Pattern is on the making. This is the most dangerous of all the chart patterns, if the action is towards south. This means, after a breakout, it fails to sustain and above the top trend line, and later go for a breakdown. That is the start of a fresh and wild bearish move. The Yellow dot shows the breakout. It failed to sustain above the top trend line and now threatening at the bottom trend line (shown with red dots on the support line). If this line breaks, we might see the market spilling blood. Technically, it is time to fasten your seat belts. As I wrote earlier, I have not considered any budget implications at all.
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