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

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