Intraday study for Indian indices for 8th February 2023

Hi
Good Morning
Yesterday we say that the short covering will come in closing and rest the market will be in range and the market tested all the mentioned levels
Today RBI gives the policy rates the. 25bps is factor in in the market so wait till the policy results to come
Yesterday the US market jumps and the Nasdaq jump higher as the FED chairman address the press conference
The INDIA VIX is cools down towards the lower end

Now we talk about the Nifty and Banknifty:--

Nifty:--
The larger support range is 17675-17750 with the resistance of 17811-17850-17925-18064 the range is more because of the trigger and the possibility of short covering because tomorrow is the expire

Banknifty:--
The support is at 41100-41300 with the resistance of 41650-41850-42100-42300

Sector and Stock Specific(SSS):--
The major sector is looking good as we have the policy today ad the banking sector is the most important sector along with the IT so look at them for today and for some days

Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
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