Will Sensex touch 19500 or 21000 after Budget on july 3rd?

History indicates sensex posts negative returns for the one month after Budget. could it be different this time after July 6?

Foreign institutional investors (FIIs), insurance companies and brokerage companies expect the Finance to deliver a reform-oriented budget that will incorporate tax cuts, fiscal consolidation, a divestment programme and infrastructure spending. In that bullish scenario , the market may repeat the 1992 performance when sensex vaulted 34% in one month post-budget ...

“This budget in many ways will be a landmark budget. We are likely to see a judicious mix of developmental initiatives as well as economic reforms that should provide the right impetus to the economy. Stability of government and a developmental agenda will fuel further government spending and this will fire up another engine of GDP growth".

FIIs also seem bullish. “We have to make an assumption ahead of the Budget as we did with the election result. Therefore, we expect the finance minister to deliver a solid reformoriented budget. The election results almost immediately improved the outlook for capital flows".