Gap Down Opening Will Expect Amid War Tensions Rises...

Daily Equity Bulletin

Last session Nifty breached its important support of 24000 and India VIX indicates significant downside in todays session, volatility persists on both sides of the market, as war-like tensions have once again emerged between the US and Iran, last night US strike on Iran sites as result is crude oil prices have crossed the $95 mark.

Asia equity in pressure after Wall Street negative session and rising oil prices .

Gift Nifty indicates a negative opening for the day.

Nifty

In Last session, Nifty closed down -0.39% at 24080. Nifty breached its strong support 24000 but CAS closing around 25050, Strong Support around 23950, break below this level will see a downside move towards 23880-23800 levels. Resistance around 24150, break and sustain above this level will see upside move till 24240-24300 level.

📌 Trading Strategy:

Buy Nifty future on around 23900

🎯 Target: 24100-24200

🚫 Stop Loss: 23800

Bank Nifty

In the previous session, Bank Nifty closed down with -1.06%. Support around 57200, break below this level will test downside level till 57000-56800 mark. On the other side, major resistance around 57600, break and sustain above this level will see upside move till 57900-58100.

📌 Trading Strategy:

🔻 Strong Buy Bank Nifty future around 57000.

🎯 Target: 57500-57800

🚫 Stop Loss: 56600

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Buy RBL Bank 380 CE on dip around 8.50. Stop loss below 6. Target-12-14.