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 https://www.tradingview.com/x/SRjwGb8X/
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 https://www.tradingview.com/x/fiyR1nNt/