NIFTY INTRADAY TRADING LEVELS FOR TOMORROW
DATE- 02.06.23
TIME-FRAME- 15 MINUTES
BUY ABOVE- 18532 target will be 18576, 18609 & 18650
SELL BELOW- 18464 target will be 18422, 18387 & 18348
NSE Nifty 50 and BSE sensex concluded the weekly F&O expiry session in red. Towards the end of the session, Bank Nifty sank 400 points, hitting a day’s low of 43,706.15 and NSE Nifty 50 touched an intraday low of 18,464.55. The NSE Nifty 50 slipped 46.65 points or 0.25% settling at 18,487.75 and BSE Sensex tumbled 193.70 points or 0.31% to 62,428.54. In sectoral indices, Bank Nifty tanked 337.95 points or 0.77% to 43,790.20, Nifty Financial Service fell 0.63% while Nifty Pharma jumped 1.06%, Nifty PSU Bank rose 0.59% and Nifty Realty surge 0.98%. The top gainers on the Nifty 50 were Apollo Hospitals, Divis Lab, Bajaj Auto, Tata Motors and Hero Motocorp while the losers were Coal India, Kotak Bank, Bharti Airtel, SBI Life and HDFC Life.
Nifty experienced a limited movement, staying within a certain range throughout the day. However, the closing saw a prevalence of selling pressure. The overall sentiment in the market is expected to remain negative until the Nifty index manages to surpass the 18,500 level. If the index fails to move back above this level, it could potentially lead to a correction in the market. On the downside, there is support expected around the range of 18,300-18,350. Conversely, resistance can be anticipated at the higher end around 18,650.
