Another Positive Session will Expect, Keep an Eye on IT Sector...

Daily Equity Bulletin

Last week Nifty closed almost flat. Shriram finance was the top gainer, and HCL Tech was the top loser

Last week Nifty PSU Bank was the top performing sector in last session, gaining 1.33% and Nifty MEDIA Service was the top loser sector.

Last week The RUPEE ended slightly stronger on the week from its mid week top against the dollar. RBI active selling of dollars help halt the INR decline and gain by last two trading days.

Nifty

Last week Nifty closed flat with almost minor gain. Support around 25880, break below this level will see a downside move towards 25800-25760 levels. Key resistance around 26000, break and sustain above this level will see upside move till 26080-26140 level.

📌 Trading Strategy:

🔻Buy Nifty future around 26050

🎯 Target: 26140-26180

🚫 Stop Loss: 25950

Bank Nifty

In the previous session, Bank Nifty also closed flat. Support around 589800, break below this level will test downside level till 58500-58300 mark. On the other side, resistance around 59200, break and sustain above this level will see sharp upside move till 59600.

📌 Trading Strategy:

🔻 Buy Bank Nifty future above 59300

🎯 Target: 59550-59700

🚫 Stop Loss: 59100

Top Pick

Buy TMPV Futures around 355. Stop loss below 347. Target-364-370.