Nifty have given breakdown in the last trading session where the price has closed below major 20 & 50 DMA on the charts. The selling was very brutal with clear breakdowns seen in major of the index heavyweights. 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. On the news front, it is heavily loaded Friday where US jobs data is due followed by SUPREME COURT RULING ON THE TRUMP TARIFFS. It will be having huge impact on the global markets. We advise traders to keep positions accordingly for the day. Bank Nifty still is looking better and no deep sell off is witnesses in the index in the last trade with price still above the 20 and 50-DMA. The trend of the index is neutral till it is holding 59500 levels on the lower side while above 60100 only the view will be more positive for the near term. Among the sectors – BANKING, DEFENCE & PHARMA as looking good for the day while METAL stocks may remain buy on dips candidates for the day.

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