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Nifty Prediction for 3 February 2025
During the special trading session on Budget 2025, Nifty opened flat, experiencing moderate trading and fluctuations. The index fell to 23,300 before closing nearly unchanged with a slight loss. Sectors like Realty, Consumption, and FMCG gained over 3%, while PSE index declined. Nifty is predicted to rise with a target of 23,800.
During the special trading session on Saturday, on the occasion of Budget 2025 – Nifty opened almost flat and traded in moderation till the budget announcement, and after some volatility in the mid-session, the index fell to take support at 23,300 – it again rebound and close the day nearly flat with a loss of just 26 points.
Budget 2025 affects the sectors as per their focus of the government where the PSE index hit hard, falling over 3% followed by Energy, CPSE, Metal, and Oil and Gas.
While Realty, Consumption, and FMCG rose over 3% each followed by the Auto sector.
You can read the summary of Union Budget 2025-26 on the official website.
Nifty Prediction for 3 February 2025
On the technical chart, we have a Bullish Engulfing Candlestick Pattern on the weekly timeframe, rising from the support of the 22,800 level, surpassing the 50DEMA – indicating a strong comeback.
While on the daily timeframe, we have a doji candlestick (spinning top) taking support at the 15DEMA at the 23,300 level after three consecutive days of gains – suggesting a continuation of the Bullish trend.
Most importantly – Nifty is forming a FALLING WEDGE Pattern, and as per the chart pattern, the market is expected to rise with the very first resistance placed at the 23,800 level – which is the upper trendline.
- The daily RSI rose above 50
- India Vix is falling continuously
- Positive MACD crossover on the daily chart
- A Bullish Engulfing Pattern on the Weekly Chart,
All these indicate a Bullish move in the market.
What to Expect from Nifty on 3 February 2025
So for Monday, 3rd February 2025 – Nifty is expected to rise and continue its bullish trend where it potentially reaches its first target at 23,800 level.
Anyway, if there is some fallback in the early session then, there is no need to worry, as we have strong support at the 23,300 and 23,200 levels.
Trading Level for Nifty: 22,200 – 22,500
Also Read:
Nifty Support and Resistance for 3 February 2025
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 23,300 | 23,500 |
| 23,200 | 23,700 |
| 23,000 | 23,800 |
Note:- For the Most Accurate Data you can revisit this Page after 11:00 AM (during Trading hours), so we can update the Trade Setup after analyzing the Market.
Happy Trading 🙂
