Market Indicates Flat Opening, Keep Metals on Radar...

Daily Equity Bulletin

In the Last trading session, Indian Indices witness a sharp fall as crude surge, Bond yield rise and INR depreciate. Rise in crude oil prices and a fall in the rupee supports the negative outlook. Brent Crude Oil steadies after a 3% surge yesterday and trade around $106.

Asia-Pac equities open at a mixed note, as yield and crude oil price extern their gains.

Gift Nifty indicates a Flat opening for the day.

Nifty

In the Last session, Nifty witnessed a sharp fall of more than -1.5% and closed at 23063. Strong Support around 23000, break below this level will see a fresh selling move towards 22920-22850 levels. Resistance around 23150, break and sustain above this level will see an upside move till 23300 level.

📌 Trading Strategy:

Buy Nifty future above 23150

🎯 Target: 23250-23300

🚫 Stop Loss: 23040

Bank Nifty

In the previous session, Bank Nifty closed on a weak note with a cut of around 2%. Support around 55000, break below this level will see a fresh downside level till 54850-54700 mark. On the other side, major resistance around 55700, break and sustain above this level will see upside move till 56000-56200.

📌 Trading Strategy:

🔺 Buy Bank Nifty future on dip around 55200.

🎯 Target: 55600-56000

🚫 Stop Loss: 54900

Top Pick- HINDZINC

Buy Hindzinc 600 CE above 4.50. Stop loss below 1. Target-12.