Nifty Trades in a Narrow Range: Daily Market Quote by HDFC Securities

Authored By Prime Research | Last Modified: Feb 5, 2026 05:21 PM IST

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After showing up move with range bound action on Wednesday, Nifty slipped into weakness on the back of weak global cues on Thursday and closed the day lower amidst minor recovery note. After opening on a negative note, the market slipped into further weakness in the early part of the session. It later moved shifted into a narrow range in the mid part and recovered from the lows towards the end.

A reasonable negative candle was formed on the daily chart with minor lower shadow. Technically, the market action of the last couple of sessions signals a broad ranger movement within 25600 to 25800 levels.

The huge opening upside gap of Tuesday is partially filled after three sessions of its formation. If the said gap remains partially filled for the next couple of sessions, then that could be considered as a bullish runaway gap, which is normally formed in the middle of uptrend. Hence, a sustainable move above 25800 is likely to open more upside in the near term.
NIFTY 05-02

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