Nifty Eyes on Fresh Highs...

Daily Equity Bulletin

The market witnessed some profit booking in the previous session. ADANIENT was the top gainer and HCL TECH was the top loser.

Nifty PSU Bank was the top performing sector in last session, gaining 2.4% and Nifty Fin Service was the top loser sector.

Important News

PRESIDENT TRUMP SIGNS EXECUTIVE ORDER IMPOSING $100,000 FEE ON COMPANIES TO OBTAIN OR RENEW H-1B VISAS FOR FOREIGN WORKERS .

INDIA’S TOURISM INDUSTRY EXPECTS WEAK INBOUND SEASON AHEAD

SONY SEES DOUBLE-DIGIT FESTIVE SALES GROWTH ON GST CUT

PIRAMAL ENTERPRISES: CO TO MERGE WITH PIRAMAL FINANCE; WITH 1:1 ALLOTMENT OF PFL SHARES

Nifty

After a 4 days rally Last session Nifty witnessed some profit booking. Support around 25260, break below this level will see a downside move towards 24200-25160 levels. Key resistance around 25420, break and sustain above this level will see upside move till 25500-25540 level.

📌 Trading Strategy:

🔻Buy Nifty future around 25300

🎯 Target: 25450-25500

🚫 Stop Loss: 23200

Bank Nifty

In the previous session, Bank Nifty closed around 55458 at down at 0.48%. Support around 55200, break below this level will test downside level till 54900-54700 mark. On the other side resistance around 55800, break and sustain above this level will see sharp upside move till 56100-56300.

📌 Trading Strategy:

🔻 Buy Bank Nifty future above 55700

🎯 Target: 56000-56200

🚫 Stop Loss: 55450

Sensex

Last week, a rise of 1000 points was seen till Thursday and profit booking was seen on Friday. Support around 82300, break below this level will see downside move till 82000-81800. On the other side resistance around 82900, break and sustain above this level will see upside move till 83200-83500 level.

Top Pick

Buy Powergrid above 390. Stop loss below 385. Target-396-400.