On the inaugural day of February, coinciding with the unveiling of the interim budget by Finance Minister Nirmala Sitharaman, the primary index NIFTY demonstrated a stable performance. In contrast, Bank Nifty and banking stocks displayed positive momentum throughout the trading session. The market exhibited a negative trend as the Sensex experienced a marginal loss of 0.15 %, closing at 71645, while the Nifty saw a 0.13 % intraday decline, settling at 21697. Conversely, Bank Nifty concluded on a positive note, gaining 0.42 % and finishing at 46188. In terms of sectors, Nifty PSU Bank, Nifty Auto, and Nifty FMCG concluded in the green, whereas Nifty Metal, Nifty Media, and Nifty Infra ended on a downward trajectory. Among Nifty stocks, Maruti Suzuki, Cipla, and Power GRID emerged as the top gainers, while Ultratech Cement, LT, and Grasim lagged behind as prime losers. India VIX experienced a negative movement of 9.97 % intraday, settling at 14.45. The index is expected to find support in the 21550-21400 zone. Examining the Open Interest (OI) data, the call side exhibited the highest OI at 22000, followed by 21800 strike prices, while on the put side, the highest OI was observed at the 21700 strike price. Meanwhile, Bank Nifty is anticipated to have support at 45700-45500, with resistance levels at 46500 and 46650.
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