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February 2, 2022

The BSE sensex closed the shop at 59,558 UP by 695 points and the Nifty close the day at 17,780 by adding 203 points.

On the Upside:-Bajajfinsv, Indusindbk, Hcl tech, Bajajfinnace
On the downside-Techm, Ultracemco, Britania, Shreecem

Tech View:- The BSE started with positive sentiment as in previous session we have seen market have supported Budget, Market have kept the same momentum continue, where; early session The BSE Sensex was up 494 points at 59,356, while the NSE Nifty was 126 points higher at 17,703.
Today’s session BSE made a high of 59,618.5. The index, eventually, closed with a gain of 695 points at 59,558 level.
NSE nifty made a high if 17,795 in intra-day deals. It closed at 17,780 level, up 203 points.

Sectoral,the BSE MidCap and SmallCap indices also logged strong gains and ended 1 per cent and 1.6 per cent higher, respectively.
The Nifty PSU Bank index was the top gainer today as it ended 3.4 per cent higher. This was followed by the Nifty Pharma, Metal and Realty indices, all up between 1 and 1.4 per cent.
Indian VIX, too down over 6 per cent to end below 19-mark.

Nifty have formed a Bullish candle on daily chart, this momentum will continue few more session, projected range16950-18500, hence; going forward 17900-18000 will be acting as a resistance and 17650-17550 will be acting as a support.
RSI and MACD supporting positive trend.

European & USA markets: @ IST 5:15 European markets were trading at Positive note. Where the Germany’s DAX trading Positive by 0.40%, Other hand France’s CAC40 index running Positive by 0.45 %where, England’s FTSE100 index Positive by 0.89%.
Where; wall street @ IST 05:20 The DOW future contract trading Positive 40 points, S&P 500 Future trading Positive 32 points, Where; Nasdaq100 future Positive 216 points.

Global News Analysis:

INDIA-India’s growth-focused budget for the upcoming fiscal year, on the back of record market borrowing, has fuelled worries among bond traders who fear the central bank may now be forced to act on the inflationary risks, despite its dovish policy stance.
AUSTRALIA:-Australia’s top central banker on Wednesday said there were economic scenarios where interest rates could rise later this year, but it was also plausible that a hike may not come for another year or more.
LONDON:-Oil prices climbed on Wednesday toward last week’s seven-year highs as a draw in US CRUDE stocks confirmed strong demand and tight supplies, but investors remained cautious ahead of an OPEC+ meeting later in the day.
EUROPE:- Euro zone inflation rose to a new record high last month, defying expectations for a big drop and piling pressure on the European Central Bank to finally admit that price growth is not as temporary and benign as it has long predicted