Markets Await RBI Policy – Volatility Ahead as Indices Struggle Near Supports

Daily Equity Bulletin

Equity markets witnessed renewed selling pressure as Nifty slipped sharply from intraday highs and closed on a bearish note. Profit booking emerged across sectors, with banking and IT leading the decline. Bank Nifty too broke key support levels, signaling short-term weakness in sentiment amid rising global uncertainty.

Markets opened cautiously ahead of the RBI Monetary Policy announcement tomorrow. Traders are closely watching commentary on inflation, liquidity, and future rate guidance. Meanwhile, global cues remain mixed as investors await tonight’s US Non-Farm Payroll data and further Fed commentary. Expect volatility to stay high with sector-specific moves.

🔹 Nifty 50 Overview:

Nifty once again faced strong resistance at higher levels and closed weak, hinting at a bearish short-term structure. Key support lies at 24,550 — a break below this could trigger further downside towards 24,430.

Upside resistance is seen at 24,750, and only a move above this may provide relief towards 24,840–24,900. Overall, bears are in control unless support is defended strongly.

📌 Trading Strategy:

🔻 Sell below 24,580

🎯 Target: 24,480 – 24,430

🚫 Stop Loss: Above 24,640

🔹 Bank Nifty Overview:

Bank Nifty closed in the red and breached key, showing weakness in financials. Now, immediate support lies at 55,200, and a breach below this could lead to deeper cuts.

However, if it sustains above 55,550, a recovery towards 55,750 and 56,000 is possible. Eyes are on tomorrow’s RBI policy — PSU and private banks may react strongly to rate commentary.

📌 Trading Strategy:

🟢 Buy above 55,550

🎯 Target: 55,800 – 56,000

🚫 Stop Loss: Below 55,400

🌟 Top Pick for the Day – UNOMINDA (Futures)

📈 Buy around ₹1,090

🔻 Stop Loss: ₹1,060

🎯 Target: ₹1,130 – ₹1,150.

📊 All eyes on RBI – Stay nimble, manage risk, and be prepared for sharp intraday swings!