Rising Oil Prices May Trigger a Weak Market Opening

Daily Equity Bulletin

The market saw a sharp upside in the last 2 previous session because of oversold zone and sharp buying from DIIs. Markets still extreme volatility amid geopolitical tensions, there is some significant progress has been made between the US and Iran, yesterdar Donald trump and Marco rubio said that the US IRAN deal might be reached any time soon, but our focus only on Brent Crude Oil still trading above $95 and today also sensex expiry so volatility expected today, investor stay cautious and do trade with strict stop loss.

Gift Nifty indicates gap down opening for the day.

Nifty

Last session Nifty closed down 0.33% at 23488. Strong Support around 23250, break below this level will see a downside move towards 23150-23100 levels. Resistance around 23450, break and sustain above this level will see upside move till 23560-23620 level.

📌 Trading Strategy:

Buy Nifty future on dip around 23320.

🎯 Target: 23450-23520

🚫 Stop Loss:. 23200

Bank Nifty

In the previous session, Bank Nifty give sharp rally from 53200 and closed up at 0.88%. Support around 53800, break below this level will test downside level till 53550-5340 mark. On the other side, resistance around 54300, break and sustain above this level will see upside move till 54550-54700.

📌 Trading Strategy:

🔻 Buy Bank Nifty future around 54000

🎯 Target: 54500

🚫 Stop Loss:. 53650

Top Pick- RBL Bank

Option Buy RBL Bank 350 CE above 14. Sl below 11.5.