Out of 28 Budget Presented When Nifty started Trading we have 14 Budget where we had Positive Close and 14 Budgets we had negative close. Bank Nifty Range of Budget Day 
Guidelines for Trading on a Budget Day
Volatility Will come down as soon Budget is over : Fast moves will come in market and even though volatility can come down but it does not mean Options Sellers can make money as Delta can see rise as Options will turn quickly from ITM/ATM/OTM dues to range expansion. Even the option buyers will not see the movement in prices and hence,trade with extreme caution. High Volatility in Markets: Traders can expect a swift up movement or a fast fall as the Union budget speech progresses. With one good announcement , the Nifty can see a jump of 30-50 points in matter of seconds and it will sometime skip your Stop loss and with one bad announcement , the dip can be of same amount or more. As the markets might move very quickly, it might get hard to trade. Unless you are an expert, it is wise to keep yourself away from the markets on the budget day. Risk Reward Ratio will not be in favor: Most of the broker will not give additional margin, normal margin will also be blocked. You need to put full margin to take trade. So get your margins in your trading account else you will keep calling your broker why my orders are not going through and loosen your focus on your trades. So, traders need to be well prepared with the needed cash in their accounts when planning for a budget day. Do Not Force Yourself Into Trading: When one is trading on the budget day, there are low chances of getting a good price and this happens due to the sudden jumps that occur in the markets. Most traders wait longer and enter the market due to frustration. Such a move has to be avoided as traders might lose money.Its just one day and will pass by, As a trader your focus should be o protect your capital and make money when you are less stressed. Use Multi Legged Option Stratergy : Most of the traders are quite uncertain about the direction of the markets and many brokers advice to use the multi-legged options strategy for trading in Nifty. Using this strategy, Traders can gain from either a good rise or a sharp fall in the stock prices on the budget day.We have discussed 2 multi-legged options strategy for Nifty and Bank Nifty trading in below Links. 01-Feb-2023 Nifty Intraday Chart
01-Feb-2023 Bank Nifty Intraday Chart
Most of the traders end up losing a lot of money when trading on the budget day. As most of them are not prepared both technically and Psychologically to adjust with the wild swings in market. Traders having small capital less than 5 lakhs should just stay away from market and watch the show from sidelines. Protection of Capital is 1 Goal of Trader. We will be sharing levels on Twitter and Facebook to help you navigate on Budget day with Profits.