A flat to negative opening will expect from the market...

EQUITY BULLETIN FOR 06 JUNE 2022

Nifty Futures

Now the Nifty is trading around a crucial zone, we will expect a trend-clear move in the upcoming session. Now Nifty has major resistance around 16800 if it breaks and a daily close above 16800 will see a sharp upside rally till 17000 — 17150 levels in the upcoming trading sessions.

On the other side, Nifty has a major support range around 16500-16450, break and close below 16450 will see a downside fall till 16300 —16240 levels in the upcoming session.

Trading strategy

Traders can buy positional Nifty Future above 16800 with a stop loss below 16550 levels for the upside movement till 17000 — 17150 levels.

Bank Nifty Futures

Bank Nifty crashed from higher levels and formed a bearish candle in the last trading session. Bank Nifty has major resistance around 36200, breaks and sustains above 36200 will see an upside movement till 36450-36600 levels.

Otherwise, major support range around 35200-35000, breaks below 35000 will see a fresh downside fall till 34700-34500 levels in an upcoming session.

Trading Strategy

Traders can sell Banknifty Future on rise around 35800 with a stop loss above 35050 for the downside movement till 35550—35400 levels in an intraday trading session.

Stock Pick of the day

ITC

Buy ITC above 276 for the upside move till 280 and then to 284 levels in the coming days. Stop loss below 272. *T&C Apply...