A Gap-Down Opening Will Expect Due to Weak Inflation Data in US...

EQUITY BULLETIN FOR 14 FEBRUARY 2024

Nifty Future Overview

Nifty observed a short covering from the lower levelsin the last trading session. A gap down opening will expect amid weakness in US markets after inflation data.

Now, Nifty Future has near support around 21650 and upside near hurdle around 21850 levels. Break and sustain above 21850 will take it towards 21920-21950 levels.

On the other side, Nifty has near support around 21650 levels, break and sustain below 21650 will expect a downside fall till 21550 levels. Major downfall will expect on close below 21550 levels till the 21400 mark.

Trading strategy

Traders can Sell Nifty Futures below 21750 with a stop loss above 21850 levels for the downside movement till 21650— 21600 levels.

Bank Nifty Overview

Bank Nifty reversed sharply and closed on a positive note in the last trading session. Bank Nifty has next support around 45300 and near resistance around 45800, breaks and sustains above 45800 will see an upside movement till 46000-46200 levels.

On the lower side, Bank Nifty has a next major support around 45300, a break and sustain below 45300 will see a downside fall till 45000-44800 levels.

Trading Strategy

Sell Bank Nifty Future below 45500 with a stop loss above 45750 for the downside movement till 45300—45100 levels in an intraday trading session.

Trade cautiously with levels only.

Stock Pick of the Day

REC LTD (14/02/2024)

Sell REC LTD below 460 for the downside move till 454 and then to 450 levels in the coming days. Stop loss above 466.

*T&C Apply…