Chandan Taparia of Motilal Oswal Financial Services expects Nifty and Bank Nifty to trade with a weak bias as long as they remain below 23,850 and 57,250, respectively.
Nifty outlook for today: Option data suggests a broader trading range in between 23,200 to 24,100 zones while an immediate range between 23,400 to 23,900 levels.
Bank Nifty has to hold above 56,750 zones for a bounce towards 57,250 then 57,500 levels while a hold below the same could see some weakness towards 56,500 then 56,250 zones
Nifty price prediction Feb 4: Key support at 25,500, resistance near 26,200. Also read Bank Nifty outlook, Nifty options data, and Chandan Taparia stock picks
Nifty outlook: Nifty has to cross and hold above 25,800 for strength to rebuild towards 25,900, then 26,000 marks, while support can be seen at 25,600 then 25,500 zones
According to Chandan Taparia of Motilal Oswal, Nifty has broken its higher highs - higher lows formation. Read more to find out Nifty strategy, Bank Nifty outlook, and stock recommendations for today
Bank Nifty has to hold above 59,000 zones for a bounce towards 59,500 then 59,750 zones while on the downside support is seen at 58,750 then 58,500 levels
AB Capital is in overall uptrend and perfectly respecting 20 DEMA, while Federal Bank has given consolidation breakout on daily chart and formed a strong bullish candle
On the daily chart, Nifty formed a bearish candle and continues to maintain a sequence of lower highs and lower lows for the fourth straight session indicating sustained pressure
Chandan Taparia, head of derivatives and technicals, Wealth Management at Motilal Oswal Financial Services, has recommended buying shares of Eternal and Swiggy
Chandan Taparia of Motilal Oswal says BPCL share price has broken out of a falling supply trendline on the daily chart with high volumes, supporting positive outlook.
Hindustan Zinc stock has given a range breakout on the daily chart with a large bodied bullish candle. The RSI indicator is rising which confirms the positive momentum.
Chandan Taparia, head of derivatives & technicals, wealth management at Motilal Oswal Financial Services, has recommended buying shares of SBI, Tata Steel, and Samvardhana Motherson
