NIFTY CONFIRM TARGETS FOR 01 feb 2023

NIFTY SUPPORT AND RESISTANCE FOR F&O UNION BUDGET 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 – 17775 - 17790
Second Resistance Zone For Nifty – 17870 - 17880
Third Resistance Zone For Nifty – 18015 - 18030

Importent Signal from Nifty Option Chain
PCR ratio as per Option Chain Analysis – 0.65 ( Bearish )
Max Pain As per Option Chain Analysis – 17800
Major Support as Per Nifty Open Interest Analysis – 17400

Conclusion For Budget Day and Next week
Today Taken Support on its Major Support ( 17348 - 17364 )
Major Support Zone For nifty is (17348 – 17448 )
Major Resistance for Tomorrow - ( 18015 - 18030 )
Tomorrow Expecting Big Moves and Volatality will be very High due to Budget , so my request to all of you to trade with Hedging
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
Expecting Big Moves in Near Budget 2023
Adani Group issue is Major Concern for Market now .
Major Resistance as Per Nifty Open Interest Analysis – 18050