Market Looks Good Ahead of RBI Policy...

Daily Equity Bulletin

The market saw a sharp upside in the last 3 previous session. Markets still extreme volatility because of FIIs selling and geopolitical tensions. Today also focus on monetary policy The RBI announce on its monetary policy decision today, stay cautious and trade with strict stop loss.

Gift Nifty indicates flat opening for the day.

Nifty

Last session Nifty closed flat 0.05% at 23416. Strong Support around 23320, break below this level will see a downside move towards 23250-23180 levels. Resistance around 23460, break and sustain above this level will see sharp upside move till 23600-23660 level.

📌 Trading Strategy:

Buy Nifty future on around 23400.

🎯 Target: 23540-23600

🚫 Stop Loss: 23280.

Bank Nifty

In the previous session, Bank Nifty give again sharp rally closed up at 0.22%. Support around 54100, break below this level will test downside level till 53900-53750 mark. On the other side, resistance around 54500, break and sustain above this level will see upside move till 54650-54800, and focus on ICICI bank as Co receives warning letter from SEBI over FPI fund repatriation.

📌 Trading Strategy:

🔻 Buy Bank Nifty future around 54400

🎯 Target: 55000

🚫 Stop Loss: 54000

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Buy Shriram Finanace 920 CE above 35. Stop loss below 25. Target-48-55.