Market Indicates Flat Opening After FED Rate Hike...

Daily Equity Bulletin

Last session Indian Indices witnessed some short covering, Market ended on a positive note. Last night, FED increase 25-basis point interest rates and US market fell sharply however recover later after a hawkish stance. Brent Crude Oil trade around $105 as little bit sentiment imporve. So stay cautious and trade carefully.

Asia-Pac equities open at a positive note, as wall street recovery after FED rate hike.

Gift Nifty indicates a flat to negative opening for the day.

Nifty

In the Last session, Nifty closed up with 0.43% at 23217. Strong Support around 23120, break below this level will see a fresh downside move towards 23000-23950 levels. Resistance around 23250, break and sustain above this level will see an upside move till 23380 level. Fresh bull run will expect above 23555 mark.

📌 Trading Strategy:

Buy Nifty future around 23200

🎯 Target: 23350-23400

🚫 Stop Loss: 23100

Bank Nifty

In the previous session, Bank Nifty ended on a positive note. Support around 56000, break below this level will test downside level till 55800-55650 mark. On the other side, major resistance around 56500, break and sustain above this level will see upside move till 56800-57000.

📌 Trading Strategy:

🔺 Buy Bank Nifty future around 56400

🎯 Target: 56800-57000

🚫 Stop Loss: 56000

Top Pick- HDFC BANK

Buy HDFC BANK Futures above 730. Stop loss below 715. Target-750-765.