Pre-Market Outlook – 02.02.2026
24700 tests as a behaviour shift zone, next? – The first day of February signals annex5ended weakness with elevated volatility ahead of union budget. After a year of time period, the 24700 acted again a key behaviour shift area as it breaks below to it during the budget presentation but managed to close above it with a caution.
Thank you for reading this post, don't forget to subscribe!Amidst mixed signals in international indices, the Indian benchmark indices are expected to start the day on a cautious manner. The trends for the remaining day become highly volatile with a Sell-On-Rise approach.
The Nifty, til it holds 24700, may try to swing indirectionally with 24900 to 25000 acting as an immediate capping levels on the upside. A break below 24700 would invite selling where it may lead towards 24500 levels.
From a positional standpoint, Nifty closing below 24700 for consecutive two sessions may confirm the next leg of downside rally with 25449 acting as resistance followed with 25740 as a core one. If it closes below the stipulated level, the medium term signal for the next downside might arise with an eye of reaching 23700/23300 levels.
Sectoral Focus
Bank, Financial Services, Metal, Energy, Oil&Gas, PSEs, IT.
Stocks To Watch
Hero Motocorp, MCX, Bharat Electronics, Hindustan Zinc, Bharat Dynamics, BNk of Baroda, Muthoot Finance, Angel One.
Earnings Corner
India Towers, Hyndai Motors, Thermax, Sundaram Finance, UPL, Tata Chemicals, PB Fintech, City Union Bank.
Traders are advised to maintain strict stoploss across positions.
Wishing everyone a successful day!