Nifty is looking weak and may open around strong support area of 24100-24300 zones. The support for the index for the day is around 24200 after a gap down opening while 25150 remains big hurdle where a gap is placed. Nifty support coincides with August 2025 lows of 24350 below which unfolded gap of May 2025 may be filled around 24150-24200 on the charts. The view will be neutral after a big gap down in today’s trade and wait for the first house close for the fresh trade on index. The chart of Bank Nifty seems better than Nifty with support for the day placed around 57700 which is Budget day lows below which 57200 seems very strong demand area. The resistance for the index is around 60350 where u filled gap is placed on charts. The overall mood of the markets is bearish for the day and carry over long positions should be avoided by short term traders Stocks in News:

HAL

: The Ministry of Defence has signed contracts worth Rs 5,083 crore for the acquisition of six Advanced Light Helicopters (Impact: Positive)

M&M

: company has received an advance payment for delivery of the order for 35,000 units. (Impact: Positive)

CIPLA

: company has entered into a 60:40 joint venture agreement with Kemwell Biopharma for the incorporation of a joint venture company in India. (Impact: Positive) NATCOPHARMA: announced the launch of Pomalidomide Capsules, a generic version of Pomalyst by Celgene. (Impact: Positive)

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