Gap Down Move will Expect Amid Huge Sell Off in Global Markets....

Daily Equity Bulletin

The market saw a little downside in the last previous session. Market still shows extreme volatility due to global market sell off on last friday, Aisa and US market was down around 4% . U.S. strong employment data came stronger than expected, so traders fears that federal reserve may keep interest rate higher for long time, so stay cautious and trade with strict stop loss.

Asian market start weak as US Tech losses weigh on sentiment.

Gift Nifty indicates gap down opening for the day.

Nifty

Last session Nifty closed down -0.21% at 23366. Strong Support around 23100, break below this level will see a downside move towards 22900-22800 levels. Resistance around 23250, break and sustain above this level will see sharp upside move till 23350-23400 level.

📌 Trading Strategy:

Buy Nifty future on around 23000.

🎯 Target: 23150-23200

🚫 Stop Loss: 22850

Bank Nifty

In the previous session, Bank Nifty give again sharp rally closed up at 0.34%. Support around 54000, break below this level will test downside level till 53750-53600 mark. On the other side, resistance around 54400, break and sustain above this level will see upside move till 54650-54800.

📌 Trading Strategy:

🔻 Sell Bank Nifty future around 54200.

🎯 Target: 53900-53700

🚫 Stop Loss: 54500.

Top Pick- Maxhealth

Buy Maxhealth on dip around 950. Stop loss below 930. Target-980.