A gap-up opening will expect for the day...

EQUITY BULLETIN FOR 18 JULY 2022

Nifty Futures

The market bounced from lower levels in the last minutes of the last trading session. Now Nifty has a major resistance zone around 16300 if it breaks and sustains above 16300 will see an upside rally till 16450 —16600 levels in the upcoming trading sessions.

On the other side, Nifty has near support around 15900 levels, break and close below 15900 will see a downside fall till 15800-15750 levels.

Trading strategy

Traders can buy Nifty Future around 16100 with a stop loss below 15950 levels for the upside movement till 16250 — 16300 levels.

Bank Nifty Futures

Bank Nifty formed a slightly bullish pattern on the lower levels. Bank Nifty has near resistance around 35000, breaks and sustains above 35000 will see an upside movement till 35350-35600 levels.

We have downside support around 34500, breaks below 34500 will see a fresh downside fall till 34200-34000 levels in an upcoming session.

Trading Strategy

Traders can buy Banknifty Future above 35000 with a stop loss below 34700 for the upside movement till 35350—35550 levels in an intraday trading session.

Stock Pick of the day

MCDOWELL

Buy McDowell above 835 for the upside move till 850 and then to 860 levels in the coming days. Stop loss below 820.

*T&C Apply…