Pre-open Tech view of Nifty Spot for 01.02.2022 & onwards*

BY A STAFF REPORTER

Yesterday Nifty was up 237 points or 1.39% & settled at 17339.80.

Today February 1 is the significant day, expecting of high volatility on the account of the Budget.

The focus would be on the GDP growth numbers, fiscal deficit target and disinvestment plans.

Sector-specific announcements and any relief on the taxation would also be on radars.

Besides Budget corporate earnings and auto sales figs also be the key factors.

So traders should maintain the cautious stance – trade with strict stop losses.

Technically, the index has support at 17100 and 16800< rounded >, while resistance comes at 17500 and 17650 levels < rounded >. 1st 15 mins high low may be the vital for rest of the sessions.

Source : Eureka

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