A gap-up move will expect on the opening day of the week...

WEEKLY EQUITY BULLETIN 16 MAY TO 20 MAY 2022

Nifty Future

On the weekly basis, the Nifty looks weak and trades in a lower zone. Now Nifty has major support around 15700, if it breaks and close below 15700 then it will test 15500 and more weakness will come on cose below 15500 levels till 15300 levels in upcoming sessions.

Now near hurdle around 16100, if Nifty able to close above 16100 then we will expect fresh upside move till 16250-16400 levels in upcoming sessions.

Intraday Levels

Nifty Future has support around 15750, breaks below 15750 will see intraday downside movement till 15660---15600 levels while resistance around 16000, break above 16000 will see intraday upside move till 16100-16150 levels on the Monday trading session. Sell on rise around resistance will be a good entry for the traders.

Bank Nifty Future

On the weekly basis, Bank Nifty is trading in a red zone. Now near Resistance around 34000, if it breaks and trades above 34000 will see an upside rally till 34400 and further to 34800 levels in upcoming trading sessions.

Major Support around 32800, if it breaks and close below 32800 will see downside fall till 32500 and further to 32200 levels in upcoming trading sessions.

Intraday Levels

Bank Nifty Future has resistance around 33700, breaks above 33700 will see an intraday upside movement till 34000 levels while Support around 33000, breaks below 33000 will see intraday sell-off till 32800---32600 levels on the Monday trading session.

Weekly Top Pick Stock

Buy Balramchin above 400. SL-382. Target-414-420. *T&C Apply...