On Monday, 28th February 2011, honorable Finance Minister, Pranab Mukherjee would be presenting Union Budget 2011-2012. Indian stock markets have felt the pinch of rising crude oil and commodity price. The rise in inflation has caught the government in a tricky situation. Fiscal deficit is another big headache for the government.Can the Budget 2011 really save bulls in the stock market?Not much is expected from the budget. Government is not in comfortable situation where it can think or do much about growth, since now the bigger challenge is for controlling inflation.However if Budget doesn’t throws up higher cost to industries in the way of hikes in excise and custom duty, then market will take some positive cues from it.Individual sectors like Gems & Jewellery, Agriculture, Housing sector is likely to see some benefits from the Union Budget 2011.Falling Crude Oil Price would provide fiat currency some temporary relief to market bullsRising Crude oil price is one of the biggest problem for Indian economy. Since we depend heavily on import of this commodity. If tensions in Libya cools off, expect oil prices to come down.Also that U.S has “threatened” OPEC’s (oil producing countries) to control oil prices by introducing higher supply to the market by increasing production of oil.Will it be enough to sustain market at the higher levels going ahead saving the crash?Its a big doubt. And I don’t think its enough to sustain the markets going forward. Though temporarily markets can rally, but the bottom line is that markets are unlikely to sustain and hold up.Q4 results will not be great this time around and we may see disappointing performance from many of the big names. Rising input prices are going to put profit margin pressure, next month in April 2011, Q4 results will start tickling in.