The Nifty ended 48 points higher, while the Sensex was up by 79 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 4 February 2026: Today, the benchmark indices witnessed narrow-range activity. The Nifty ended 48 points higher, while the Sensex was up by 79 points. Among sectors, the Consumer, Oil, and Gas indices rallied over 2 percent, whereas the IT index corrected sharply, shedding nearly 6 percent. Technically, after a muted open, the market hovered between the 25,600/83100 and 25,800/83900 price range throughout the day. Intraday charts indicate non-directional activity, reflecting indecisiveness between bulls and bears.
We are of the view that, on the higher side, 25,800/83900 or the 50-day SMA (Simple Moving Average) would act as crucial resistance zones. If the market manages to trade above these levels, it could move up to 25,900–26,000/84200-84500. Conversely, below 25,600/83100, the index could slip to 25,500–25,350/82800-82500.
The current market texture is non-directional; hence, level-based trading would be the ideal strategy for day traders.
