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 https://www.tradingview.com/x/3EBkdwol/
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 https://www.tradingview.com/x/2PqrowfW/