Nifty is currently trading in a volatile consolidation phase with a heavy cautious bias, as the index has recently slipped below key moving averages and sentiment remains fragile due to sectoral weakness, especially in IT. Technically, the zone around 24800–24850 is acting as immediate support, while 25400–25450 remains a strong resistance band where call writing is visible. The global markets are weak tracking the development in the middle east followed by huge jump in the crude oil prices. The sentiment on the street will remain extremely cautious till it is trading below yesterday’s low on the charts. Among the sectors –FMCG and ENERGY are looking good for the day to buy on declines while on the flip side, realty stocks may again witness sell off at the initial trade. Sectoral Impact due to War: Positive Side: OIL & ONGC (Upstream Oil Companies) Gold Financing Companies Negative Side: Aviation (INDIGO) IOC, BPCL, HPCL (Downstream Oil Companies) Banking Paints

BPCL

IOC

#EquityResearch#PersonalFinance#Pre-OpeningCommentary#MacroViews#Today’sTradingSetup

780 likes·53 comments