Market Overview For 6th February 2023
February 6, 2023 by Ayush Anjana · 2 min read

The Broader Market Indices opened with a gap up , consolidated and fell and bounced where both nifty and bank nifty closed at fresh high for the day , banknifty relatively stronger than nifty
Nifty Daily Chart
- Nifty closed just around the 17850 resistance
- The structure remains sell on rise until we close decisively above 17850
- We can see some consolidation between 17400-17850
Nifty 45 Minute chart analysis
- Nifty opened with a gap up , initially came down till 17580 and bounced closing around fresh high for the day
- Key levels to look for will be 18000 on the upside and 17650 on the downside
- Till now we have seen an inside bar trading within the budget day range which if taken out will have a trendy move
Nifty 15 Minute chart https://www.tradingview.com/x/qdxZ428q/
Banknifty daily chart
- Banknifty gave a strong close above 41000
- Key level to watch will be 41500-41700 which has been an confluence area
- We can see good strength once 41700 is taken out
- Currently range bound between 41700-40000
Banknifty 45 Minute chart analysis
- Banknifty opened with a gap up above 41000 and corrected till 40600 from where it bounced and closed around 41500
- Key levels to watch are 41000 on the downside and 41700-41800 on the upside
- We can see good strength once 41700-41800 is taken out
Banknifty 15 Minute chart https://www.tradingview.com/x/BkgWeFyN/