Another Weak Opening Will Expect For the Day, Watch 23630 Carefully...

Daily Equity Bulletin

Indian Indices broke and closed below its important support levels. Today's important trigger is Crude Oil, Brent Crude Oil still sustains above $97.

Asia-Pac equities open mostly in negative as focus shift to Japan labour cash earning and China trade data.

Gift Nifty indicates another negative opening for the day.

Nifty

In the Last session, Nifty closed down with -0.5% at 23779. Nifty broke its strong support of 23800 and now next strong support around 23600, break below this level will see a fresh downside move towards 23500-23460 levels. Resistance around 23900, break and sustain above this level will see upside move till 24000-24080 level.

📌 Trading Strategy:

Strong Buy Nifty future on around 23800.

🎯 Target: 24000-24100

🚫 Stop Loss: 23680

Bank Nifty

In the previous session, Bank Nifty too ended on a weak note. Now Support around 57000-56900, break below this level will test downside level till 56700-56550 mark. On the other side, major resistance around 57300, break and sustain above this level will see upside move till 57550-57700.

📌 Trading Strategy:

⬆️ Strong Buy Bank Nifty future around 57000.

🎯 Target: 57300-57600

🚫 Stop Loss: 56700

Top Pick- HINDALCO

Buy Hindalco 1000 CE above 28. Stop loss below 20. Target-38-45.