Positive Opening Will Expect For the Day.

Daily Equity Bulletin

Nifty witness a strong buying from lower level from 24550 level and closed at 24715. TATA Steel was the top gainer today, gaining 5.97% and INFI was the top loser today, decline -1.3%.

Asian market closed negative note today. Nikkei closed down -0.88% and also Hang Seng closed down at -0.60%.

Nifty Metal was the top sector performer today gained over 3.11%. Nifty IT was the top loser sector today.

Investors remain fixated on upcoming U.S. economic data, especially the highly anticipated nonfarm payrolls release on Friday, Sept 5.

Nifty

Nifty takes support at lower levels due to buying by domestic institutional investors. Support around 24650, break below this level will see a downside move towards 24580-24540 levels. Key resistance around 24750, break and sustain above this level will expect upside move till 24830-24860 level.

📌 Trading Strategy:

🔻 Buy above Nifty future 24860

🎯 Target: 24930-24970

🚫 Stop Loss: Below 24750

Bank Nifty

In the previous session, Bank Nifty sharp turn around from lower levels and closed on positive note at 54000. Support around 53800, break below this level will see downside move till 53500 - 53300 mark. On the other side, resistance around 54200 break and sustain above this level will see upside move till 54500-54700 levels.

📌 Trading Strategy:

🔻 Buy Bank Nifty future above 54500

🎯 Target: 54700-54850

🚫 Stop Loss: Below 54200

Yesterday PCR for Nifty stood at approximately 1.26, indicating that there were significantly more put option positions relative to calls