On the geopolitical front, there is again a big development from the tariff front with fresh tariffs is imposed by US on the countries doing trade with Iran. India being a major trade partner with Iran will also have an immediate impact of the same. On the technical front, Nifty have managed to hold December lows od 25500 levels in the last trading session where the price has closed now around lower band of the Bollinger. The selling was halted after some positive news flows on the street yesterday. FIIs have sold in cash, index futures and also heavily in the stock futures indicating broader sell off likely to continue in the today’s session as well. Bank Nifty still is looking better and no deep sell off is witnesses in the index from past few trades with price still around 20-DMA. The trend of the index is neutral till it is holding 59000 levels on the lower side while above 59800 only the view will be more positive for the near term. Among the sectors –DEFENCE, Metal as looking good for the day while Banking stocks may remain buy on dips candidates for the day.

HAL

HINDZINC

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