NIFTY CONFIRM TARGETS FOR 03 feb 2023

2 Feb 2023

NIFTY SUPPORT AND RESISTANCE FOR F&O DAY TRADING


Support Zones For nifty Intraday Trading

First Support Zone For nifty50 – 17434 - 17445
Second Support Zone For nifty50 – 17348 - 17364
Third Support Zone For nifty50 – 17143 - 17161

Resistance Zones For nifty Intraday Trading

First Resistance Zone For Nifty – 17656 - 17668
Second Resistance Zone For Nifty – 17775 - 17790
Third Resistance Zone For Nifty – 17935 - 17950

Importent Signal from Nifty Option Chain
PCR ratio as per Option Chain Analysis – 0.78 ( Bearish )
Max Pain As per Option Chain Analysis – 17650
Major Support as Per Nifty Open Interest Analysis – 17350
Major Resistance as Per Nifty Open Interest Analysis – 18000

Conclusion -
Nifty in consolidation zone , Wait for Breakout
Try To Buy Future Conract or Call Option Near Support Zone and Book Profit At Rsistance Zone
Try to Short nifty at every Resistaance and Book Profit Near Support Zone
Adani Group issue is Major Concern for Market now .