Intraday study for Indian indices for 1st February 2023
Hi Good Moring
Yesterday we saw a good consolidation in the indices and see the short covering in the closing and saw a good close before the budget Today is the Budget day and also 1 day to the weekly expire so the market moves according to the budget so be careful during the budget because of the huge swings
The US market closes 1% up and the SGXNIFTY is showing the gapup
The cools down which is good
Now we talk about the NIFTY and BANKNIFTY:--
Nifty:--
The support is placed at 1757-17550-17600 with the resistance of 17777-17811-17850
Banknifty:--
The support is placed at 40100-40300-40500 with the resistance of 41100-41500-41800
Sector and Stock Specific(SSS):--
The major budget related sector is looking good and if the budget is in favor then we will see the good short covering in the market and look at the banks trade carefully
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
Yesterday we saw a good consolidation in the indices and see the short covering in the closing and saw a good close before the budget Today is the Budget day and also 1 day to the weekly expire so the market moves according to the budget so be careful during the budget because of the huge swings
The US market closes 1% up and the SGXNIFTY is showing the gapup
The cools down which is good
Now we talk about the NIFTY and BANKNIFTY:--
Nifty:--
The support is placed at 1757-17550-17600 with the resistance of 17777-17811-17850
Banknifty:--
The support is placed at 40100-40300-40500 with the resistance of 41100-41500-41800
Sector and Stock Specific(SSS):--
The major budget related sector is looking good and if the budget is in favor then we will see the good short covering in the market and look at the banks trade carefully
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
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