A Gap Up Opening Will Expect for the day

EQUITY BULLETIN FOR 08 MAY 2023

Nifty Futures

Nifty Futures fall sharply and settled above the crucial support level in the last trading session. Now Nifty has near support around 17950 and upside crucial hurdle around 18200 levels. Break above 18200 will see a fresh upside move till 18280-18350 levels in the upcoming trading session. The fresh bull run will expect on a daily close above 18250 levels.

On the other side, Nifty has crucial support around 17950 levels, break and close below 17950 will see a downside fall till 17850-17800 levels.

Trading strategy

Traders can Buy Nifty Future around 18050 with a stop loss above 17900 levels for the upside movement till 18200 — 18350 levels.

Bank Nifty Futures

Bank Nifty erased all weekly gains and closed on a bearish note in the last trading session. Bank Nifty has near resistance around 43300, breaks and sustains above 43300 will see an upside movement till 43600-43850 levels.

On the lower side, Bank Nifty has a major support around 42300, a break and a daily close below 42300 will see a fresh downfall fall till 41800-41500 levels.

Trading Strategy

Traders can buy Banknifty Future on dip around 42500 with a stop loss below 42000 for the upside movement till 42900—43200 levels in an intraday trading session.

Stock Pick of the Day

AMBUJA CEMENT

Buy Ambuja Cement above 408 for the upside move till 416 and then to 420 levels in the coming days. Stop loss below 399.

*T&C Apply…