The domestic stock markets experienced significant volatility on Wednesday, the day the budget was presented to Parliament. The market reached a high of 17,972 points this week, according to the LTP calculator’s analysis of the weekly range for the nifty, which was capped at 18,186 points, and Support for the weekly range was 17,598 points, the market’s low for the week was 17,353, but it concluded within the range and exactly at the support for the range, which was 17,616.30 points. Both the major indices closed with a mixed trend as profit-booking prevailed after the market moved higher. BSE’s 30- share index Sensex closed at 59,708.08 points with a gain of 158.18 points, or 0.27%.

When The Budget Speech Was Delivered On 1^st February 2023:-

• The Sensex surged up to 1,223.54 points, but it eventually lost the majority of those gains
• BSE Sensex climbed up to 1200 points
• Closed with a gain of 158 points
• ITC shares increased up by 2.61%
• LIC’s share fell 10%
• The NSE index Nifty, in contrast, had a loss of 45.85 points, or 0.26 percent.
• KOSPI of South Korea, Nikkei of Japan, Shanghai Composite of China, and Hang Seng of Hong Kong all saw solid closings in other Asian markets
• The markets in Europe were trading up

LTP Calculator Option Chain Indicates The Next weekly Range

According to the LTP Calculator, the weekly range in the approaching week would be 17,907 points for resistance and 17,313 points for support. Based on this information, we can conclude that the market will move down in the upcoming week because the weekly range is lower than it was last week. Therefore, anytime the weekly range is lower than the previous week, it indicates that the market is still bearish relative to the previous week. Accordingly, this week’s support and resistance levels are 17,313 points and 17,907 points, respectively.