Pre-Market Update - Feb 3rd
Nifty / Bank Nifty, Stocks In News

Nifty 1 Hr Timeframe Analysis

Nifty closed at 17610.40 (-0.03%). Nifty tried to break the resistance on first-hour trading but didn't sustain.  Then for rest of the day, a range bound market of the first candle of 1hr TF was spotted.

Nifty need to break the resistance on pattern broke as volatility is reduced from left to righ of the strecture on 1 HR TF.

Bank Nifty 1 Hr Timeframe Analysis

 Bank Nifty closed at 40669.30(+0.39%). BN also traded below the resistance level as described in yesterday's blog. BN is making HL structure and showing a positive price action. A bullish move might observe above the resistance line of 40801 and trendline might work as support on downside.

Bank Nifty if broke the resistance of 40801

Stocks in News

• Ritesh International Ltd Q3 FY23 profit declines to Rs. 8.40 lakhs
  
• Aavas Financiers Ltd Q3 FY2023 consolidated PAT up at Rs. 107.12 crores
  
• Birlasoft Ltd posts consolidated loss of Rs. 16.36 crores in Q3FY23
  
• Tata Consumer Products Ltd reports rise in Q3FY23 consolidated PAT to Rs. 351.76 crores

Sector Heat Map 

Heatmap from Trendlyne website

Analysis by
Dixit from MT Team
Equity Research Analyst (Technical & Fundamental). Experienced Index Analyst.