Market Holds Crucial Support as PSU Banks Trades Higher...

Daily Equity Bulletin

On Friday, the Nifty 50 closed at 24,363.30, down 0.95%, as technology and pharmaceutical sectors lagged amid heightened trade tensions and weak corporate earnings. This marked the sixth straight week of losses, the longest such stretch in over five years, signifying sustained bearish sentiment.

FII flows remain cautious, mixed Q1 results likely to shape near-term direction.

Nifty 50 Overview

Nifty fell 0.95% on Friday, maintaining a downwar trend for the straight sixth week. Key support around 24250, break below this could trigger further downside toward 24,100. Upside resistance is seen at 24500, break above this will give some relief toward 24700-24800.

📌 Trading Strategy:

🔻 Sell on rise below 24450

🎯 Target: 24,350– 24,300

🚫 Stop Loss: Above 24,550

Bank Nifty Overview

In the previous session Bank Nifty closed at its major support 55000 and indicating weakness in the market. Now the major support is at 55000, break below this will see further decline. On the other side, break and sustain above 55600 55600 will provide some relief till 56000 levels.

📌 Trading Strategy:

🔻 Buy above 55200

🎯 Target: 55500– 55700

🚫 Stop Loss: Below 54700

Top Pick

Buy SBIN Futures around 820. Stop loss below 804. Target-840-848.