Market Overview For 8th February 2023

February 8, 2023 by Ayush Anjana · 1 min read


The Broader Market opened with slight gap up where both indices initially corrected and recovered making a V shape structure for the intraday chart ,bank nifty was relatively stronger than nifty closing positive around 41500

Nifty Daily Chart

  • Nifty trading within an inside bar formation with the budget day high low as a broader range
  • We can see a trendy once the budget day range is broken
  • The structure remains sell on rise until we close above 17850 

Nifty 45 Minute chart analysis 

  • Nifty opened with a slight gap up and corrected till 17650 and bounced recovering till 17770 and closing around 17720
  • Key levels to watch are 17850 and 17650

Nifty 15 Minute chart

Banknifty Daily Chart 

  • Banknifty hovering around the resistance level of 41700 which once taken out we can see good strength 
  • The structure within the broader range looks bullish as it is getting support at lower levels like yesterday
  • Key support level to watch will be 40800 

Banknifty 45 Minute chart analysis

  • bank nifty opened with a gap and corrected till 41100 and bounced closing around the open which was 41500
  • Key levels to watch are 41750 and 41000 

banknifty 15 Minute chart