Indian Market Outlook: February 02, 2026

NIFTY is likely to open negative.

NIFTY short-term support is between 24550-24600 and resistance is between 25000-25050.

BANKNIFTY short-term support is between 58000-58100 and resistance is between 59000-59100.

Max pain for NIFTY has decreased to 25000.

Max pain for BANKNIFTY has decreased to 59600.

You may look for a Long CALL/Short PUT on the drop.

At our short-term levels, directional trades may be tried.

Please note that this is not a recommendation. Please consult your financial advisor.

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Disclosure:

Portfolio: ALPHA, ASTRAL, ATUL, BANKBEES, CERA, CHOLAFIN, CONCOR, DMART, GOLDBEES, FINEORG, FINPIPE, HCLTECH,  HDFCBANK, ICICIBANK, JUNIORBEES, KPITTECH, LIQUIDBEES, MOM30IETF, NIFTYBEES, POLYMED, REDTAPE, RHIM, SBIN, SILVERBEES, TIMKEN, etc.

We regularly trade weekly options.