Morning Market Insights:

Indian markets will open widely on a steep negative note all thanks to the ongoing heated down move in the US markets post hot jobs data which indicates Fed have good room to increases rates in the coming days. On the technical front, Nifty have support around 23150 followed by 22980 while 23650-23750 remains stiff resistance zones. On the other hand, Bank Nifty will also come under the hammer talking weak global cues but may recover from the lows all thanks to the recent strength shown in the last few days. Any cut below 52800 on the technical front will be negative for the banking index while 55100 remains resistance zones. Stocks in News: $HINDZINC will be under pressure today after sharp sell off in the Silver prices overnight in the international markets where prices fell by more than 7-8% $HINDALCO , TATASTEEL: - The metal stocks will also face hammer in the today’s session after the broader metal prices fell sharply in the international markets IT Stocks: can be volatile in the today’s trade after the steel sell off in the NASDAQ overnight and can witness buying from the lower zones after the initial sell off $ADANIGREEN : will be in focus after SBI Mutual Fund has acquired 1.27 percent stake in Adani Enterprises, and picked up additional shares worth Rs 958 crore in Adani Energy Solutions from Rajiv Jain's GQG Partners. EMS: has received the lowest bidder (L-1) status awarded by UP Jal Nigam (Urban), Varanasi for construction work.