A Gap Up Opening Will Expect for the day.

EQUITY BULLETIN FOR 08 AUGUST 2023

Nifty Futures

Nifty futures performed well as per our expectations in the last trading session. Now Nifty has an immediate support around 19600 and near resistance around 19700 levels. Break above 19700 will see an upside move till 19800-19850 levels. Traders can enter around 19700 for the upside gains of 100-120 points.

On the other side, Nifty has support around 19600 levels, break and close below 19600 will see test 19500 levels.

Trading strategy

Traders can Buy Nifty around 19700 with a stop loss below 19600 levels for the upside movement till 19800 — 19850 levels.

Bank Nifty Futures

Bank Nifty Future faced a hurdle on the higher levels and closed on a negative note in the last trading session. Bank Nifty has near resistance around 45150, breaks and an hourly close above 45150 will see an upside movement till 45400-45500 levels.

On the lower side, Bank Nifty has a near support around 44800, break and sustain below 44800 will test 44500 level. Further weakness will expect on close below 44500 levels till 44200 levels.

Trading Strategy

Traders can Buy Banknifty above 45000 with a stop loss below 44800 for the upside movement till 45250—45400 levels in an intraday trading session.

Stock Pick of the day

Bandhan Bank

Buy Bandhan Bank Futures above 231. Stop loss below 227. Target-235-238.

*T&C Apply…