Nifty 50 IndexLong
Intraday study for Indian indices for 2nd February 2023
Hi Good Morning
Yesterday we saw a good reaction of the market on the union budget as the Capital gain tax is untouched in it and we saw a good 2000 points rally in the banknifty and in Nifty but the News on the adani by the credit swiss give negative impact on the market and then we fall
The US FED increase the rate to .25bps which is already factor in but says looking for the more tightening that's why the indices not fall much
The SGXNIFTY is showing the gap down on the adani news again and showing the negative opening
The INDIAVIX is constant it fall but again rise up
Now we talk about the Nifty and Banknifty:--
Nifty:--
The support is at 17400-17350 as it the range of yesterday lower end which is now sacrosanct with the resistance of 17700-17777-17811
Banknifty:--
The support is around 39700-39550 the range is near yesterday low and also because the ADR of the HDFCBANK in US fall around the 4% don't know why but it will give negative opening to us
with the resistance of 41000-41500 as today is the weekly expire
Sector and Stock Specific(SSS):--
as i am saying to you the budget related stocks all of them shows the good move yesterday and also today i say to you to be in IT Banking leaders Capital goods consumption so be in big names as defensives
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
Yesterday we saw a good reaction of the market on the union budget as the Capital gain tax is untouched in it and we saw a good 2000 points rally in the banknifty and in Nifty but the News on the adani by the credit swiss give negative impact on the market and then we fall
The US FED increase the rate to .25bps which is already factor in but says looking for the more tightening that's why the indices not fall much
The SGXNIFTY is showing the gap down on the adani news again and showing the negative opening
The INDIAVIX is constant it fall but again rise up
Now we talk about the Nifty and Banknifty:--
Nifty:--
The support is at 17400-17350 as it the range of yesterday lower end which is now sacrosanct with the resistance of 17700-17777-17811
Banknifty:--
The support is around 39700-39550 the range is near yesterday low and also because the ADR of the HDFCBANK in US fall around the 4% don't know why but it will give negative opening to us
with the resistance of 41000-41500 as today is the weekly expire
Sector and Stock Specific(SSS):--
as i am saying to you the budget related stocks all of them shows the good move yesterday and also today i say to you to be in IT Banking leaders Capital goods consumption so be in big names as defensives
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
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