Market Outlook 03 Feb 2026 | Nifty, Bank Nifty, Gold & Silver
Market Outlook – 03 February 2026 | Nifty, Bank Nifty, Gold & Silver (Post Budget)
This blog presents an educational market outlook for Tuesday, 03 February 2026, following the Union Budget 2026 and the subsequent market reaction. The analysis covers Nifty 50, Bank Nifty, MCX Gold Futures, and MCX Silver Futures, incorporating recent price behaviour, institutional activity, and key technical levels. This content is strictly for informational and educational purposes only.
📌 Table of Contents
➜ Recent Market Context
Indian equity markets witnessed a sharp rebound on 02 February 2026, recovering part of the losses seen during Budget Day volatility. Buying interest emerged at lower levels as market participants reassessed policy announcements and valuation comfort.
- Post-budget volatility eased after initial panic selling
- Selective buying observed in index heavyweights
- Markets now focus on execution, liquidity, and global cues
➜ Overall Market Sentiment – 03 February 2026
- Equity Sentiment: Cautiously constructive
- Volatility: Elevated but stabilising
- Market Phase: Post-budget digestion
- Participation: Selective and stock-specific
➜ Nifty 50 Outlook – 03 February 2026
Nifty recovered sharply from lower levels in the previous session and managed to close above key psychological zones. The broader structure indicates range-bound consolidation with a positive bias.
| Zone | Level | Interpretation |
|---|---|---|
| Major Support | 24,850 – 24,900 | Post-budget base support |
| Immediate Support | 25,000 – 25,050 | Psychological holding zone |
| Neutral Range | 25,050 – 25,200 | Consolidation band |
| Immediate Resistance | 25,250 – 25,350 | Supply pressure area |
| Upper Resistance | 25,500+ | Upside expansion if sustained |
➜ Bank Nifty Outlook – 03 February 2026
Bank Nifty continued to show relative strength, supported by expectations around credit growth and financial sector stability.
| Zone | Level | Interpretation |
|---|---|---|
| Major Support | 58,200 – 58,400 | Structural base |
| Immediate Support | 58,500 – 58,650 | Short-term cushion |
| Neutral Range | 58,650 – 58,900 | Sideways consolidation |
| Resistance | 59,000 – 59,300 | Supply zone |
➜ MCX Gold Futures Outlook – 03 February 2026
Gold prices remained volatile after a sharp correction from recent highs. The metal continues to respond to currency movement, global interest rate expectations, and risk sentiment.
- Support Zone: ₹1,38,000 – ₹1,40,000 per 10g
- Neutral Range: ₹1,42,000 – ₹1,46,000 per 10g
- Resistance Zone: ₹1,48,000 – ₹1,52,000 per 10g
➜ MCX Silver Futures Outlook – 03 February 2026
Silver remains the most volatile among precious metals, impacted by leveraged unwinding and industrial demand expectations.
- Major Support: ₹2,28,000 – ₹2,32,000 per kg
- Immediate Support: ₹2,35,000 – ₹2,38,000 per kg
- Neutral Range: ₹2,38,000 – ₹2,50,000 per kg
- Immediate Resistance: ₹2,50,000 – ₹2,60,000 per kg
- Upper Resistance: ₹2,65,000+ per kg
➜ Key Risk Factors
- Global macro and interest rate developments
- Currency volatility and bond yield movement
- Commodity price swings
- Institutional flow shifts
➜ Final Market Perspective – 03 February 2026
Markets are expected to trade in a range-bound but cautiously constructive manner. Post-budget volatility may continue, but key support zones are likely to guide near-term behaviour.
➜ Disclosure & Disclaimer
This article is published strictly for educational and informational purposes only and does not constitute investment advice or recommendations.
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