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Market News:

* Oswal Solar Energy Pvt. Ltd. (wholly owned subsidiary) secured a Rs.39.4 crore (incl. GST) order for 7.46 MWp grid-connected rooftop solar plants for 3,729 SC/ST consumers under PM Surya Ghar scheme in APDISCOMs.

* ABB Ltd signed the BTA to sell its Robotics Business to ABB Robotics India Private Limited for Rs.1,568.2 crore.

* DEE Development Engineers Secures Rs.58 Crore Seamless Pipe Manufacturing Contract from Leading Industrial Customer.

Technical Summary:

The index opened on a gap-down note amid escalating US–Iran geopolitical tensions. In the near term, traders are advised to adopt a cautious stance, as Brent crude’s surge toward the $80 mark signals weak sentiment for equities. On the sectoral front, defence and metal stocks ended in positive territory, while tourism and infrastructure witnessed significant selling pressure.

Levels to watch:

The Nifty has its crucial resistance 25000 (Pivot Level) and 25200 (Key Resistance). While support on the downside is placed at 24500 (Multiple Touches) and 24300 (Key Support).

What should short term traders expect?

The Index can SHORT below 24700 for the potential target of 24500 the stop loss of 24770 level.

Technical Data Points

NIFTY SPOT: 24850 (-1.30%)

TRADING ZONE:

Resistance: 25000 (Pivot Level) and 25200 (Key Resistance).

Support: 24500 (Multiple Touches) and 24300 (Key Support).

STRATEGY: Bearish Till Below 25200 (Key Resistance).

BANK NIFTY SPOT: 59862 (-1.10%)

TRADING ZONE:

Resistance: 60500 (Pivot Level) / 61300 (Key Resistance)

Support: 59000 (Pivot Level) / 58500 (Key Support)

STRATEGY: Bearish Till Below 61300 (Key Resistance).

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer