A Flat to Negative Opening Will Expect for the Day...

EQUITY BULLETIN FOR 02 AUGUST 2023

Nifty Futures

Nifty futures is facing a hurdle on a higher level and closed on a negative note in the last trading session. Now Nifty has immediate support around 19770 and near resistance around 19880 levels. A break above 19880 will see an upside move till 19950 levels and further upside will expect on close above 20000 levels in the upcoming trading session.

On the other side, Nifty has support around 19770 levels, break and an hourly close below 19770 will see a sharp fall till 19700 levels.

Trading strategy

Traders can Sell Nifty below 19770 with a stop loss above 17860 levels for the downside movement till 19700 — 19650 levels.

Bank Nifty Futures

Bank Nifty Future is moving in a range and closed on a weak note in the last trading session. Bank Nifty has near resistance around 45800, breaks and an hourly close above 45800 will see an upside movement till 45950-46100 levels.

On the lower side, Bank Nifty has a near support around 45600, break and sustain below 45600 will test 45500 level. Further weakness will expect on close below 45500 levels till 45200 levels.

Trading Strategy

Traders can Buy Banknifty above 45800 with a stop loss below 45600 for the upside movement till 46050—46150 levels in an intraday trading session.

Stock Pick of the Day

TNPL

Buy TNPL above 216 for the upside move till 228 and then to 240 levels in the coming days. Stop loss below 205.

*T&C Apply…