Again a sharp fall will expect on weekly start...

WEEKLY EQUITY BULLETIN 7 TO 11 MARCH 2022

Indian Equities were ended with deep losses on Friday, amid weak global cues. The Nifty settled below the 16,250 level after crossing the 16,450 mark in the afternoon trade. Investors' sentiment was dented by the escalation of the Russia-Ukraine war, soaring oil prices, and persistent FIIs selling. Barring the Nifty IT index, all the sectoral indices on the NSE ended in the red. Consumer durables, autos, and realty shares witnessed steep selling.

The barometer index, the S&P BSE Sensex, fell 768.87 points or 1.40% at 54,333.81. The Nifty 50 index shed 252.70 points or 1.53% at 16,245.35.

Titan Company (down 5.21%), Maruti Suzuki India (down 4.75%), Asian Paints (down 4.45%), Hero MotoCorp (down 4.32%), and Tata Motors (down 4.28%) were top Nifty losers. In the broader market, the S&P BSE Mid-Cap index lost 2.36% while the S&P BSE Small-Cap index slipped 1.64%.

Nifty Future

On the weekly basis, the Nifty looks weak and trading around a major support zone. Now Nifty has major support around 15950, if it breaks and closes below 15950 then it will test 15800-15500 levels in days to come.

Now major hurdle around 16500, if Nifty is able to close above 16500 then we will expect any trend change otherwise more panic will come in upcoming sessions.

Intraday Levels

Nifty Future has support around 16150, breaks below 16150 will see intraday downside movement till 16800---15950 levels while resistance around 16400, break above 16400 will see intraday upside move till 16500 levels on the Monday trading session. Sell on rise around resistance will be a good entry for the traders.

Bank Nifty Future

On the weekly basis, Bank Nifty has major Resistance around 35200, if it breaks and trades above 35200 will see an upside rally till 35750 and further to 36000 levels in upcoming trading sessions.

Major Support around 34000, if it breaks and close below 34000 will see downside fall till 33600 and further to 33000 levels in upcoming trading sessions.

Intraday Levels

Bank Nifty Future has resistance around 34800, breaks above 34800 will see an intraday upside movement till 35200 levels while Support around 34000, breaks below 34000 will see intraday sell-off till 34700---34400 levels on the Monday trading session.

Weekly Top Pick Stock

Sell Ibulhsgfin below 143. Stop-loss 148. Target-138-135. *T&C Apply...