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Technical View: On February 1 on the budget day, high volatility, Nifty’s feb series starts above 23,500 – Technical View Nifty Start Feb Series Above 23500 with Union Budget Announsment Tomorrow there COLTIDER

Technical View: The Nifty Index closed on a strong note on the first day of the February series. In the fourth consecutive session on Friday 31 January, the index continued to increase due to purchases in all the sectors. Amidst positive global signals, the index opened around 23300 and increased to close to 23,550 with an increase in day by climbing. However, later some profits were also seen. But despite this, the index closed close to the highest level of the day. The Nifty rose 258.90 points or 1.11 percent to close at 23,508.40.

The most increased stocks on Nifty include Tata Consumer, Trent, India Electronics, Nestle India, L&T shares. While the most falling stocks included shares of Bharti Airtel, ICICI Bank, Bajaj Finserv, Apollo Hospitals, JSW Steel.

Consumer durables, energy, realty, oil and gas, FMCG indexes increased by 2 percent. With this all the sectoral index closed in the green mark. On the other hand, auto, IT, media, metal, PSU bank saw an increase of 1-1.5 percent.

The Nifty Midcap index rose 1.89 percent and the smallcap index 2.1 percent.

Dealers today made bumper bye in two shares of Aviation and Finance Sector for early earning, know how much stocks will jump

How can the market remain on February 1 on February 1

Aditya Gaggar of Progressive Shares said, “The last day of the month was on Tejdis. From the beginning, the index moved upwards and closed at 23,508.40 with a gain of 258.90 points at regular intervals. All sector with energy and FMCG closed in green mark Being a major outparformer, the mid and smallcap sector increased by 1.89% and 2.11%.

“With a strong bullish candle, the index has confirmed its Falling Wage Formation Breakout. But tomorrow the union budget announced high volatility in the market.”

He said, “The undertone of the index will be positive with secure at the lower level at 23,400, while at a high level, 23,740–23,860 will be considered a strong resistance zone.”

The Bank Nifty Index also carried forward the rally in the fourth consecutive season. The index reached 49,674.80 of the day. It closed at 49,587.20 above 0.56 percent.

(Disclaimer: The ideas and investment advice on Moneycontrol.com have their own personal views and opinions. Moneycontrol advises users to consult certified experts before making any investment decisions.)

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