Market Overview For 3rd February 2023

February 3, 2023 by Ayush Anjana · 2 min read


The broader Market Indices Opened with a gap down and headed higher where banknifty recovered more than 400 points , even though it looked like a consolidated expiry , the movements within the range were unbearable 

Nifty Daily Chart

  • Nifty defending the lower levels of 17400-17500
  • The structure is still sell on rise until we close above 17850
  • On a daily time frame , nifty trading around the lower end of a parallel channel

Nifty 45 Minute chart 

  • Nifty opened with a gap down and recovered from the start and consolidated within a range of 17700-17500
  • On smaller time frame , there is a consolidation between the range of 17400-17700 , whichever is broken we can see a trendy move

Nifty 15 Minute chart

Banknifty Daily Chart 

  • Banknifty opened below 40000 and headed higher closing above 40600
  • Currently banknifty looks rangebound between 39500-41500
  • The structure is sell on rise until we break above 41500

Banknifty 45 Minute chart 

  • Banknifty opened with a gap down , and headed higher consolidated for the whole day and closed at fresh high of the day
  • Key levels to watch will be 41000 on the upside and 40000
  • We can see a trendy move once either of the levels and broken and sustained for more than 15 Minutes

Banknifty 15 Minute chart