L&T, NTPC: Should you buy these 5 stocks on capex hike hope in Budget 2025?

Technical chart shows that L&T, NTPC, Jain Irrigation seem to be placed favourably, while Siemens and Power Grid Corporation look weak. Here are the key levels to watch out on these 5 shares.

Finance Minister Nirmala Sitharaman to present the Union Budget 2025 on Saturday, February 01, 2025. The finance minister in the July Budget had said that the government will provide Rs 11.11 lakh crore for capital expenditure for 2024-25 and introduce viability gap funding to spur private investment in infrastructure.  Ratings agency ICRA in a note on Budget expectations said, the government should target a capital spending of Rs 11 trillion in the Budget for the next fiscal while giving inflation-adjusted relief on personal income tax to boost consumer spending.  In general, an increase in government capital expenditure (capex) benefits the economy by stimulating infrastructure development, creating jobs and boosting demand across sectors. Infra-related sectors especially road, railways and power tend to benefit, alongside a ripple effect to rural economy.    As such, here's a technical outlook on 5 stocks that could benefit from a potential hike in capex in Budget 2025.  Larsen & Toubro  Current Price: Rs 3,418  Upside Potential: 12.6%  Support: Rs 3,380; Rs 3,300  Resistance: Rs 3,600; Rs 3,670  Larsen & Toubro stock is seen testing the 50-MMA (Monthly Moving Average) support around Rs 3,380 on the long-term chart; below which key support for the stock stands at Rs 3,300 - its super trend line on the weekly chart. These two are the key levels as L&T has not closed below these two supports since July 2022. CLICK HERE FOR THE CHART  As long as these support levels are held, L&T can potentially swing back towards Rs 3,850 levels. Interim resistance for the stock can be expected around Rs 3,600 and Rs 3,670. On the flip side, in case, L&T breaks the support zone, it can slip to Rs 3,200; below which a sharper slide towards Rs 2,750 levels seems likely.    Siemens  Current Price: Rs 5,792  Downside Risk: 18.9%  Support: Rs 5,410; Rs 4,700  Resistance: Rs 6,170; Rs 6,400  Towards, the end of December Siemens broke its key super trend line support on the weekly chart for the first time since November 2020. Post which, the stock has extended the fall and is now seen trading close to its 20-MMA support, which stands at Rs 5,410. On the downside, the stock can drift towards Rs 4,700 levels. CLICK HERE FOR THE CHART  The near-term bias for the stock is expected to remain negative as long as the stock trades below Rs 6,400, with near resistance seen at Rs 6,170.  NTPC  Current Price: Rs 322  Upside Potential: 19.6%  Support: Rs 325; Rs 305; Rs 301  Resistance: Rs 344; Rs 370  NTPC, recently, had given a positive breakout on the daily chart and since then is seen trying hold the 20-DMA (Daily Moving Average), which stands at Rs 325. The near-term bias for NTPC is likely to remain cautiously optimistic as long as the stock trades above Rs 305 - Rs 301 support zone. CLICK HERE FOR THE CHART  On the upside, the stock can potentially bounce back to Rs 385 levels, with interim resistance placed around Rs 344 and Rs 370 levels.    Power Grid Corporation  Current Price: Rs 286  Downside Risk: 11.5%  Support: Rs 275; Rs 263  Resistance: Rs 301; Rs 311  Power Grid stock is on the verge of giving a negative breakout on the weekly scale; a weekly close below Rs 294 shall confirm the same. As such, the stock could then be headed towards the 100-WMA (Weekly Moving Average) placed at Rs 253. Interim support for the stock can be anticipated around Rs 275 and Rs 263. In case of a pullback, the stock is expected to counter resistance at Rs 301 and Rs 311 levels. CLICK HERE FOR THE CHART  Jain Irrigation  Current Price: Rs 70.30  Upside Potential: 56.5%  Support: Rs 67.70; Rs 62.70  Resistance: Rs 73.70; Rs 83.50  Jain Irrigation is seen testing resistance around its 200-MMA, placed at Rs 73.70 for the last seven months. The bias as per the daily and weekly chart seems cautiously positive. However, the stock needs to conquer the 200-MMA hurdle and trade consistently above the same for further gains to emerge. CLICK HERE FOR THE CHART  As such, the stock can potentially surge to Rs 110 levels; with interim resistance seen at Rs 83.50. On the downside, the stock has near support at Rs 67.70, below which key support stands at Rs 62.70. Break of this support zone can drag the stock back to Rs 50-odd levels.