Another Positive Start Will Expect for the Day...

Daily Equity Bulletin

Nifty opened on a positive note today and closed at 24625, up by about 0.81%. Bajaj Auto was the top gainer today, gaining 3.85%, and the Sun Pharma was the top loser today, decline -1.96%.

Gold and silver reached their all-time highs as the US dollar weakened. Asian markets closed mixed today. Nikkei closed down -1.25% and Hang Seng closed up 2.15%.

Nifty Auto was the top sector performer today, auto stocks gained over 2.8%. Nifty media was the top loser sector today.

Nifty

Nifty reversed sharply from lower levels after Q1 GDP growth was higher than expected at 7.8%. Nifty is holding its key support level around 24350, a move below this level will see a sharp decline towards 24280-24250 levels. Resistance around 24700, break and sustain this level will expect upside move till 24820 level.

📌 Trading Strategy:

🔻 Buy around Nifty future above 24740

🎯 Target: 24820-24850

🚫 Stop Loss: Below 24680

Sensex

In the previous session, the Sensex recovered from the lows and closed at 80,364. Key support around 79800, a break below this will lead to a sharp decline towards 79000 levels. Resistance around 80600, a break above this and sustain will lead to a rally towards 81200 levels.

📌 Trading Strategy:

🔻 Buy Sensex future around 80800

🎯 Target: 81,100-81,200

🚫 Stop Loss: Below 80500

Bank Nifty

In the previous session, Bank Nifty closed on a positive note at 54000 level and was showing signs of strength. Support around 53700, if it breaks below this level, it will see a decline till 53200 level. On the other hand, resistance around 54200 break and sustains above this will see a upside move till 54600 level.

📌 Trading Strategy:

🔻 Buy Bank Nifty future on dip around 54300

🎯 Target: 54550-54600

🚫 Stop Loss: Below 54100

PCR (OI): 1.13 — Indicating more open interest in puts than calls.