Nifty Indicates Flat Opening Ahead of FED Interest Rates...

Daily Equity Bulletin

Last session Indian Indices witnessed heavy selling, Market ended on a negative note. Both Nifty and Bank Nifty broke its important supports. Today's focus on Paytm as UPI transactions above Rs 2,000 will attract Merchant Discount Rate of 0.4% per transaction. Important triggers for the day is Crude Oil as Oil rises after Houthi forces attact Saudi arabia pipelines as result oil supply disruption. Brent Crude Oil jump above $108. So stay cautious and trade carefully and keep focus on Fed Meeting result on interest rates.

Asia-Pac equities open at a mixed note, as wall street cautious ahead of fed rate decision.

Gift Nifty indicates a flat opening for the day.

Nifty

In the Last session, Nifty closed down with -1.19% at 23118. Strong Support around 23050-23000, break below this level will see a fresh downside move towards 22900-22840 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 on dip around 23100

🎯 Target: 23250-23300

🚫 Stop Loss: 23000

Bank Nifty

In the previous session, Bank Nifty ended on a weak note. Support around 55555, break below this level will test downside level till 55000-55200 mark. On the other side, major resistance around 56000, break and sustain above this level will see upside move till 56300.

📌 Trading Strategy:

🔺 Buy Bank Nifty future around 55800

🎯 Target: 56200-56500

🚫 Stop Loss: 55550

Top Pick- BHEL

Buy BHEL 410 CE above 13. Stop loss below 9.50. Target-17-20.